RT

A deepening crisis of confidence in the US dollar may be unfolding, Deutsche Bank has warned. The caution follows US President Donald Trump’s announcement of sweeping new tariffs, which have rattled financial markets and intensified fears of a global trade war.

In a note to clients on Thursday cited by Reuters, George Saravelos, global head of foreign exchange research at the German financial giant, said that major changes in capital flows could destabilize currency markets.

“Our overall message is that there is a risk that major shifts in capital flow allocations take over from currency fundamentals and that FX [foreign exchange market] moves become disorderly,” he wrote.

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