Westpac have popped up a piece summarising three key themes that have emerged from the European Central Bank's annual conference in Sintra that concluded on Wedneday:
Asia and the West have different responses to the trade shock The decline of US dollar dominance will be slow Reliance on the neutral rate offers diminishing returnsShift from the US dollar as a reserve currency will be gradual, driven by global uncertainty and lack of a clear alternative.
Stronger geopolitical and legal foundations in Europe
A long-term process with no quick fixes
Recent Korean won strength reflects domestic political stability, not just USD weakness
Increased hedging ratios by domestic fund managers have supported currencies like the won, Taiwanese dollar, and Japanese yen
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( "The decline of US dollar dominance will be slow" )
Also on site :