12 Jan 2015
Contenders for the greenback - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that when the euro was launched, many thought it could rival the dollar.
Key Quotes:
"Even at its peak, it was little more than the sum of its part"s.
"Its share of global reserves were about the same share as the German mark, French franc, and ECU was previously".
"For a brief moment, some observers thought the Bitcoin could challenge the dollar, with at least one analyst at a major bank calling on central banks to use it as a reserve asset".
"There has been a flirtation with SDRs (of which the dollar is the biggest component). More recently, the internationalization of the yuan has captured the popular imagination".
"There were those who thought the desire for an alternative to the dollar itself was significant. Yet this may say less about the flaws of the dollar and more about the search desire for an alternative for the sake of an alternative".
"The isolation of Russia and falling commodity prices and poor policy choices in Brazil have undermined the BRICS as such an alternative".
"With the commodity and emerging market cycle turning, the BRICS have been reduced to IC, which has considerably less marketing appeal".
Key Quotes:
"Even at its peak, it was little more than the sum of its part"s.
"Its share of global reserves were about the same share as the German mark, French franc, and ECU was previously".
"For a brief moment, some observers thought the Bitcoin could challenge the dollar, with at least one analyst at a major bank calling on central banks to use it as a reserve asset".
"There has been a flirtation with SDRs (of which the dollar is the biggest component). More recently, the internationalization of the yuan has captured the popular imagination".
"There were those who thought the desire for an alternative to the dollar itself was significant. Yet this may say less about the flaws of the dollar and more about the search desire for an alternative for the sake of an alternative".
"The isolation of Russia and falling commodity prices and poor policy choices in Brazil have undermined the BRICS as such an alternative".
"With the commodity and emerging market cycle turning, the BRICS have been reduced to IC, which has considerably less marketing appeal".