Opinion | Welcome to the Sad New World of a Weak U.S. Dollar
The U.S. dollar has been a symbol of American power for decades. Of the $7.5 trillion in global currency transactions that take place each day, some 90 percent feature the dollar. The majority of central banks see it as the core of their reserves. Consumers run to it in times of stress. Businesses prefer it for trade invoicing, whether they are based in Milwaukee or Malaysia.The dollar may not lose its globally dominant role anytime soon. After all, there isn’t an obvious alternative waiting in the wings. But it is...