The slow demise of the dollar

Great graphic below that comes with this article in the Wall Street Journal which looks at how dollar centric the foreign exchange markets are and, more significantly, how the dollar is now being superseded as the world’s reserve currency by the euro and the yuan.

“I believe that over the next 10 years, we’re going to see a profound shift toward a world in which several currencies compete for dominance.”

Added to this the ECB’s talk of raising its interest rate for the Eurozone (European Central Bank Says Rate May Rise Soon), the dollars downward trend does not look like it’ll end sometime soon.