Top Stories; Don't call time on dollar dominance just yet, say analysts as 'petroyuan' call sparks debate
Top Stories — Thursday, April 16, 2026
What is trending in the USA today? Here is Breaking News:
- Don't call time on dollar dominance just yet, say analysts as 'petroyuan' call sparks debate — CNBC
- European stocks rise as UK GDP jumps and Iran peace talks remain in focus — CNBC
- DeepL, known for text translation, now wants to translate your voice — TechCrunch
Don't call time on dollar dominance just yet, say analysts as 'petroyuan' call sparks debate
Source: CNBC • Published: 4/16/2026, 2:07:20 PM
The U.S. dollar suffered in 2025 as investors embraced the "Sell America" trade, the Federal Reserve cut interest rates, and the greenback was dealt a policy and fiscal credibility shock. The war in Iran has helped shore-up the dollar so far in 2026, but the future of the global reserve currency is a matter of growing debate.
Deutsche Bank has ignited debate after one of its strategists predicted that the dominance of the U.S. dollar could be eroded if countries decide to price crude in alternative currencies.
The Iran war could be remembered as a key catalyst for "erosion in petrodollar dominance, and the beginnings of the petroyuan," Deutsche FX managing director Mallika Sachdeva said in a note published March 24.
Franklin Templeton responded on April 14 with a note that called the analysis "remarkably simplistic," writing that Sachdeva has misinterpreted the security-for-oil-pricing relationship with Saudi Arabia.
"Oil is not priced in US dollars simply because the United States has long acted as the world's policeman," wrote Sonal Desai, Franklin Templeton's fixed income CIO.
"Oil exporters have a strong self-interest in getting paid in USD, because of what dollars represent: access to the deepest, most liquid capital markets in the world, backed by an institutional and legal framework that protects property rights and enforces contracts, supported by a strong, dynamic, and innovative economy."
During the first half of 2025, the dollar posted its worst performance in over 50 years after U.S. President Donald Trump walked back his "liberation day" tariffs announced in April, rattling faith in the country's assets.
The dollar index, which tracks its performance against a basket of major currencies, fell almost 10% through 2025.
It enjoyed something of a reprieve after the Iran war began on Feb. 28, strengthening against all major currencies and moving in tandem with the oil price, before weakening again as hopes of peace have brought down crude and WTI prices.
Deutsche and Franklin's positions represent two ends of the spectrum in the de-dollarization discourse.
Deutsche is among those who see the currency in structural decline, while Franklin lines up with those who see no alternative.
The proportion of dollar reserves has fallen over the decades, from over 70% in 1999 to just over 50% today. Other currencies, such as the renminbi and euro, have taken a larger slice of the pie, yet the dollar retains hegemony.
While the dollar has its flaws, it is difficult for analysts to see a world without it dominating global trade.
"There is no alternative," Elias Haddad, global head of markets strategy at Brown Brothers Harriman, told CNBC in an interview. "All other currencies are nowhere near an environment to replace the dollar."
China comprises a 3% share of global central bank reserves and is gradually increasing its influence, as part of a long-term plan to internationalize its currency.
"But there's no way China is going to get to 50% anytime soon, especially with their capital markets closed. It's the same for the Eurozone," Haddad said.
Franklin Templeton's Desai added in the note that building the right infrastructure for a credible replacement, consisting of "deep markets, rule of law, full convertibility, a track record of macro stability", takes decades, not years.
On the other hand, Deutsche's point that the U.S. security umbrella in the Gulf has been strained since the war began is another example of fading confidence in U.S. trade and security policies that further damages the dollar's reputation, Haddad added.
He said that fading U.S. fiscal credibility and the Federal Reserve being undermined by Trump are two more reasons why the structural downtrend has further to go.
This could create a scenario in which the dollar's reserve status is gradually eroded, but not eliminated; weaker, but not replaced.
Desai added that the dollar's recent weakness is simply a function of its characteristics.
"Some dollar softness is perfectly consistent with global reserve currency status," Desai wrote.
"Unlike the renminbi, the dollar is a freely floating currency. It floats – up and down."
European stocks rise as UK GDP jumps and Iran peace talks remain in focus
Source: CNBC • Published: 4/16/2026, 1:52:51 PM
LONDON — European stocks opened slightly higher on Thursday, following Asian markets higher, as investors assess strong U.K. GDP data and await Eurozone inflation data for March.
Markets also continue to keep a close eye on the progress of peace negotiations between the U.S. and Iran.
Shortly after the opening bell, the pan-European Stoxx 600 index was seen 0.25% higher, its sectors painting a mixed picture.
Miners and technology stocks led gains, while telecoms lagged the broader index.
The U.K.'s FTSE 100 index and France's CAC 40 both opened up 0.2%, while Germany's DAX nudged 0.13% higher and Italy's FTSE MIB rose 0.5%.
The British economy surpassed expectations with 0.5% growth in February, compared to forecasts of just 0.1%, according to official data published Thursday.
However, the outbreak of the Iran war at the end of February is set to derail U.K. growth prospects. The war is also expected to have had a significant impact on eurozone inflation data, due later in the day.
In corporate news, shares in EasyJet fell on Thursday after it warned that the Iran war and higher fuel prices are weighing on customer bookings.
The airline said it took on roughly £25 million ($34 million) in additional fuel costs in the first half due to the U.S-Iran war. It expects airline costs to remain tied to volatile fuel prices over the coming months.
Shares dropped as much as 8.7%, before paring losses to last trade down 3.2%.
U.S. President Donald Trump said in an interview broadcast Wednesday that the conflict was "very close to over," fueling market optimism that peace talks could resume and a resolution be found.
The Associated Press, citing regional officials, reported Wednesday that the U.S. and Iran had an "in principle agreement" to extend their fragile two-week ceasefire in order to allow for more diplomacy.
But a senior U.S. official told CNBC that the U.S. "has not formally agreed to an extension of the ceasefire."
"There is continued engagement between the U.S. and Iran to reach a deal," added the official, who spoke on condition of anonymity to discuss the administration's internal plans.
Overnight, Japan's Nikkei 225 hit a record amid a broader rally in Asia markets, tracking gains on Wall Street on Wednesday as hopes of a U.S.-Iran deal grew. U.S. stock futures were little changed on Wednesday night after both the S&P 500 and Nasdaq Composite rose to fresh records during the regular session.
European data releases on Thursday include the latest U.K. GDP figures for February (at 7 a.m. London time) and final European inflation data for March. Flash data out earlier this month showed euro zone inflation jumped to 2.5% in March, from 1.9% in February. Earnings come from Vinci, Tesco, Aker, Pernod Ricard and Rentokil Initial.
DeepL, known for text translation, now wants to translate your voice
Source: TechCrunch • Published: 4/16/2026, 1:30:00 PM
DeepL, a translation company best known for its text tools, released a voice-to-voice translation suite today that covers use cases like meetings, mobile and web conversations, and group conversations for frontline workers through custom apps. The company is also releasing an API that lets outside developers and businesses build on top of DeepL’s tech for customized use cases, such as call centers.
“After spending so many years in text translation, voice was a natural step for us,” DeepL CEO Jarek Kutylowski told TechCrunch in an interview. “We have come a long way when it comes to text translation and document translation. But we thought there wasn’t a great product for real-time voice translation.”
Kutylowski said that the challenges in creating a real-time translation product center on striking a balance between reducing latency — the delay between someone speaking and the translated audio playing back — and maintaining accurate results.
DeepL is releasing add-ons for platforms like Zoom and Microsoft Teams, where listeners can either hear real-time translation while others are speaking in native languages or follow real-time translated text on screen. This program is currently under early access, and the company is inviting organizations to join a waitlist. The company also has a product for mobile and web-based conversations that can take place in person or remotely.
DeepL also lets allows users participate in a group conversation in settings like a setting like training sessions or workshops, allowing participants to join through a QR code.
DeepL said that its voice-to-voice tech can also learn and adapt to custom vocabulary, such as industry-specific terms and company and personal names.
Kutylowski said that AI is reimagining what customer service will look like in the coming years. He noted that a translation layer helps companies provide support in languages where qualified staff are scarce and expensive to hire.
DeepL faces competition from several well-funded startups working in adjacent corners of the space. Sanas, which last year raised $65 million from Quadrille Capital and Teleperformance, uses AI to modify a speaker’s accent in real time — a tool aimed primarily at call center agents.
Dubai-based Camb.AI focuses on speech synthesis and translation for media and entertainment companies Amazon Web Services, helping them dub and localize video content at scale.
Palabra, backed by Reddit co-founder Alexis Ohanian’s firm Seven Seven Six, is building a real-time speech translation engine designed to preserve both the meaning and the speaker’s original voice, putting it in more direct competition with what DeepL is now building.
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