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Sterling was a reserve currency and was therefore subject to considerable volatility.
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He said the euro's role as a reserve currency would strengthen again.
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For a would-be reserve currency, that's a real spanner in the works.
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There is nothing new about the hegemon's currency being the global reserve currency.
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That some countries are going to abandon the dollar as their reserve currency?
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Of course, being a reserve currency is not all good.
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China's currency may become a global reserve currency this year.
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They would also like to see the dollar replaced as the world's reserve currency.
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China's ultimate goal is to make the yuan the reserve currency to the Dollar.
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And from there, what is the status of the dollar as a reserve currency?
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Serious Money:The American dollar, the world's reserve currency, has been under increasing pressure of late.
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For the world's central bankers, the dollar remains the reserve currency of choice by far.
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He also said that he expects the U.S. dollar to remain the world's reserve currency.
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Federal Reserve money-printing has debased the world's reserve currency.
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It also deals another blow to the U.S. dollar's status as the world's reserve currency.
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Currently 18 member states use the euro, which is the second-biggest reserve currency in the world.