Dollar Decline
This article from The Independent talks of the long term decline of the dollar. The dollar has been steadily declining since 2001 and could go even further.
Oil is starting to be priced in other currencies and China has begun to move its huge currency reserves away from the dollar. Here is a key quote from the article...
Kenneth Froot, a Harvard university professor and former consultant to the US Federal Reserve, warned yesterday: "Part of the depreciation [of the dollar] is permanent. There is no doubt that the dollar must sink against periphery currencies to reflect their increase in competitiveness and productivity."
A lot to keep track of. We are in shifting times for the primacy of the dollar on world markets.
