The euro is putting pressure on the dollar and started another week gaining versus the greenback as speculations suggest that the U.S. dollar’s position as the main global reserve currency may be entering its final days.
As the U.S. government maintains interest rates at record lows to improve domestic economy and is tolerating a weaker dollar to stimulate exports competitiveness, central banks around the world are shifting its reserves to other currencies, in a natural move to preserve its wealth which may cause in the long term, a new order in the country’s currencies reserves.
EUR/USD traded at 1.4773 as of 20:53 GMT from a previous rate of 1.4719 when markets opened yesterday.
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