> It is not correct that an Asian business doing business with a Italian company first exchanges their currency to USD by selling the US goods then using that USD to complete the transaction.
The only way around that is the EUR. Otherwise, most countries have very little connections to one another. Even neighbors will trade with USD and settle in New York.
The only way around that is the EUR. Otherwise, most countries have very little connections to one another. Even neighbors will trade with USD and settle in New York.