Financial

Fri Apr 18, 2014 4:18PM

The US dollar is losing its dominance on global trade amid spiraling tensions between Washington and Moscow over Ukraine, says an analyst.

In his Friday column for Press TV website, F. William Engdahl said Russia and leading trading countries are developing “alternatives to using the US dollar for their bilateral trade.”

The analyst said the US government has been printing “money without limit, in order to rescue the bankrupt Wall Street banks with what the Federal Reserve calls Quantitative Easing.”