Reuters quotes Algerian official Khelil as saying that OPEC has no alternative to the dollar but that the US dollar will gradually need to share space with the euro and Yuan.
Can’t argue with that logic, though the Yuan will have to be allowed to float before it can take its place among the major currencies.
US equities have turned to the topside after the open and the greenback is dipping in turn. EUR/USD trades at 1.4695.
