As the dollar wobbles, why has there not been more flight to the euro?

Amid rising US debt, trade tensions, and geopolitical conflict, questions are mounting about the long-term dominance of the dollar. This serves as a good reminder that a weak dollar does not immediately equate to a decline of dollar dominance. Limited supply of safe euro assetsLagarde has emphasized that the euro remains “underdeveloped” as a reserve currency. Fragmented capital marketsAnother major obstacle to a global euro is the lack of a unified capital market. To make the euro truly global, EU members would need to align political priorities around a shared strategic vision.