I’m just reading some extremely interesting research from one of the major international banks. In Q2 2009, for the first time ever, the EUR accounted for over 50% of the reserves accumulated and the USD for less than 40%. Also, the JPY share of reserve accumulation rose at the highest rate in 4 years.
If you want to know why the USD/JPY fell and the EUR/USD rose, read the paragraph again. If this trend continues, the USD will continue to fall.
