Since World War II, the US Dollar (USD) has served as the world’s preeminent ‘reserve currency’ – the means of exchange for most of the rest of the world to do business. From central bank holdings to international commerce and commodity transactions, the USD has reigned supreme, commanding between close to 90% of the world’s foreign currency exchange (FX) transactions (see chart, below). For years we have fielded questions about how long the USD could maintain its reserve currency status, as threats emerged from both within (related to instability and high debt levels of the US economy) as well as abroad, ... (full story)