Asia key to the rise of the euro

William Pesek JR

Asian central banks will decide when, if ever, the the euro shall supplant the dollar

What a difference a couple of years make in the currency markets. The once mighty dollar is sliding, while the once feeble euro is surging. The question is, when will the euro supplant the dollar as the number one global currency? Answer: when Asia says so. Central banks in this region hold vast amounts of dollar assets, meaning they will decide the dollar's fate. And monetary authorities here are still overwhelmingly invested in dollars. There are two reasons for this. The first is lingering skepticism about the stability of the euro and economic outlook in an age of global terrorism. T...