[4] It has defied all attempts to rival its monopoly position, even going back to the 1980s, when hopes that Japan’s emergence as global creditor would support the internationalisation of the yen were also disappointed. [5] The US dollar today accounts for around half of global foreign exchange transactions worth 6.6 trillion dollars per day.
As we noted in our statement following the Federal Open Market Committee meeting in March, “The economy, bolstered by a marked swing in inventory investment, is expanding at a significant pace.