Asia Centric by Bloomberg Intelligence Geopolitical Risks Are Sinking The Dollar Again
Feb 25, 2026
Audrey Childe-Freeman, Chief FX Strategist at Bloomberg Intelligence, explains shifting geopolitical shocks and tariff uncertainty driving dollar weakness. She highlights why the Swiss franc, euro and Australian dollar may gain, discusses Japan’s yen challenges, and outlines gold’s role as a diversification play. Short, sharp takes on currency moves and global policy divergence.
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Geopolitics Renew Dollar Diversification Case
- Geopolitical shocks have revived the case for global currency diversification away from the US dollar.
- Audrey Childe-Freeman points to the Greenland controversy and evolving tariff headlines as drivers lowering dollar demand and boosting diversification flows.
Dollar Still Dominant Despite Bear Case
- The 15-year dollar bull run is being questioned but not fully overturned yet; reserve and market structure still favor the dollar.
- Audrey warns de-dollarization is gradual: US Treasuries' size and liquidity keep the dollar dominant despite lower allocations.
Favor Swiss Franc And Euro As Defensive FX
- Prefer defensive currency exposures when geopolitical uncertainty rises, notably the Swiss franc and the euro.
- Audrey explicitly recommends the Swiss franc (despite valuation) and the euro as safe-haven FX plays amid tariff and geopolitical risks.