1600 GMT – The dollar’s safe-haven status is “cracking” due to concerns about rising debt, persistent deficits, monetary-policy credibility and a loss of confidence in U.S. institutions, says Orbis’s Nick Purser. Orbis suggests building a basket of alternative currencies to mitigate risks to the dollar and recommends the Norwegian krone, Australian dollar and Japanese yen as currencies to consider. “The dollar’s value ultimately rests on trust in U.S. policy and institutions—and that assumption is being questioned,” the asset management firm’s head of currency says. The dollar also looks expensive compared to other currencies. This was previously justified by high U.S. interest rates and robust growth, but that foundation is weakening, Purser says. (jessica.fleetham@wsj.com)