Market Overview Global currency markets are grappling with a pivotal inflection point as the dollar’s structural dominance faces mounting headwinds. Five and a half decades after President Nixon closed the gold window—an event that was supposed to be temporary but became permanent—the cracks in dollar exceptionalism are becoming impossible to ignore. The combination of geopolitical fragmentation, weaponization of dollar-based financial infrastructure, and shifting capital allocation patterns is creating a subtle but measurable erosion in the greenback’s unquestioned reign. This shift …