Nothing in this article surprises me. ED was doomed from the beginning. The only way a universal currency can survive is if it is dominated by a single country and its monetary policy with the weaker partners just following along. Uniting Europe as far as free trade agreements was a good idea, but Germany, UK and Skandanavia (highly developed countries) paying for PIIGS through the devaluation of the ED is the price they must pay to distribute wealth from the rich north to the poor south.
The JY and USD gaining on all others? No surprise, until China removes the dual rate currency system, the Yen is the only stable currency of the region. Many contracts in China, even by non-Japanese or non-US companies require payment in Yen or Dollars.
USD is still for now the dominant commodities transaction currency. How long this lasts with our deficit spending is questionable.
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