How Yuan Reserve Currency Approval Will Doom the Dollar

Remember this photo from March?

 

The IMF yuan reserve currency approval ensures that the days of the dominance of the U.S. dollar are coming to an end.

“China’s [yuan] is ultimately destined to replace the U.S. dollar as the world’s primary reserve currency, while China’s central government bond market will become the world’s primary reference market for fixed income,” Jan Dehn, head of research at Ashmore Group, wrote in a research note. Continue reading