Yuan's global currency transactions for trade rose to 4.5% in March, USD was 83.71%.

ICYMI, Reuters had this overnight:

• Yuan overtakes dollar to become most-used currency in China's cross-border transactions

That headline will get the de-dollarization folks all excited, but wait there's even more!

• The yuan was used in 48.4% of all cross-border transactions (in China), Reuters calculated, while the dollar's share declined to 46.7% from 48.6% a month earlier.

High fives all 'round? Maybe not, as buried down the bottom of the article is this:

• Data from SWIFT showed that the yuan's share of global currency transactions for trade finance rose to 4.5% in March, while the dollar accounted for 83.71%.

The de-dollarisation folks are all too willing to make the jump from a piddling 4.5% to 'it's the end of the dollar!". Sorry guyz, its not even close.

An earlier post on this:

• Goldman Sachs says the USD will remain dominant on the world stage for a long time