LONDON :Signs of de-dollarisation are unfolding in the global economy, strategists at the biggest U.S. bank JPMorgan said on Monday, although the currency should maintain its long-held dominance for the foreseeable future.
The dollar's share of traded currency volumes is just shy of record highs, at 88 per cent, while the euro's share has shrunk by 8 per centage points in the last decade to a record low of 31 per cent. The share of the Chinese yuan, meanwhile, has risen to a record high of 7 per cent. JPMorgan's note on Monday estimated for global exports, the U.S. share is now down to a record low 9 per cent, whereas China was at a record high of 13 per cent.
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