Dollar’s dominance comes under threat

America is losing its grip on its status as issuer of the world's reserve currency.

For 70 years, the US dollar has been the world's dominant currency. Most financial transactions across the world are conducted in dollars. Central banks hold around 60% of their foreign currency reserves in greenbacks.

But while it's "slow work" undermining the dollar's deeply entrenched status as the world's reserve currency, the US government seems to be doing its best, say Swaha Pattanaik and Edward Hadas on Breakingviews.

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