The global shift away from dollar-denominated dominance is accelerating. With increasing tariff pressures and rising global conflict, Trump’s second term has brought de-dollarisation into the spotlight. For institutional investors, this global trend represents both risk and opportunity. The question is which datasets provide a genuinely useful lens. 

De-dollarisation is, at its core, a contested debate. The dollar has served as the world’s reserve currency since the 1944 Bretton Woods conference and remains on one side of 89.2% of global trades in 2025, up from 88.4% in 2022. The case for de-dollarisation, however, becomes more compelling when you investigate the composition of this figure and beyond. USD/CNY is the only major pair to record a material increase in turnover share between 2022 and 2025, rising from 6.6% to 8.1%, while USD/EUR and USD/GBP both contracted. De-dollarisation refers to this gradual shift, as countries increasingly settle transactions, hold reserves, and price goods in alternative currencies. De-dollarisation is important to funds because shifts in dollar dominance ripple across asset classes, which have measurable portfolio impact. From a data perspective, tracking this global shift away from USD requires a multi-dimensional approach.