In a report, Société Générale strategist Kit Juckes noted that the U.S. military’s move last weekend to oust Venezuelan President Maduro has not eliminated the threats to the dollar’s dominance. Juckes noted that while the dollar has risen somewhat on safe-haven demand, the gains have not been significant; so far, the market reaction to the situation in Venezuela has been relatively muted. He emphasized that the theme of “de-dollarization”—that is, investors reducing their use of the dollar in trade, global reserves, and transactions—“will not disappear because of news like this.” He noted that market uncertainty remains high, as interest rate differentials suggest the dollar should weaken, while growth expectations suggest it should strengthen.