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Beware the simple explanation, writes Mark Dow, discussing currency movements. The dollar's...

Beware the simple explanation, writes Mark Dow, discussing currency movements. The dollar's decline has little to do with Ben Bernanke, and is more about a secular move begun in 2002 as those in emerging markets felt more comfortable holding domestic currency. The dollar still makes up 63% of global reserves, but the U.S. is just 20% of global output. There's a lot more to go.
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