'Nobody will trust a US treaty again,' and Japan's yen is now the new safe haven currency, strategist says

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• Quantum Strategy's David Roche said "NATO is dead" as the US distances itself from European allies and warms up to Russia. That makes Vladimir Putin and Xi Jinping the big winners and the US the "big loser," he added, with Japan's yen displacing the dollar as the world's safe haven currency.

An American promise is looking more doubtful as the US upends traditional geopolitics, with repercussions in global financial markets, according to Quantum Strategy's David Roche.