Demise of greenback’s FX reserve omnipotence greatly exaggerated

News Snapshot:

After two decades of the U.S. dollar’s share of global foreign exchange reserves gradually eroding to less than 60%, economic, financial and geopolitical stars are aligning to halt that trend in the next few years and possibly even reverse it. At least temporarily. That’s the indication from an annual survey of central banks and reserve managers conducted by the Official Monetary and Financial Institutions Forum, which chimes with recent research and analysis from leading figures in the world of FX reserves. The emergence of the euro and China’s explosive rise to the world’s second-biggest economy have diminished the dollar’s FX...