In recent days Russia has been touting an alternative global reserve currency as an alternative to the dollar. They say the Chinese and other emerging nations “backed talks” on the issue, whatever that means.
A pseudo-currency like the SDR, an IMF confection, could fit the bill, some say.
EUR/USD has added to gains, now at 1.3725 from 1.3737 highs. News of a fresh government bailout for US auto parts suppliers is not helping the dollar.