JP Morgan: "The dollar could lose its status as the world’s dominant currency"

JP Morgan's strategist Craig Cohen wrote in a report earlier this month alerting about the imminent decline of the $ as reserve currency. " we believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments." "Given the persistent—and rising—deficits in the United States (in both fiscal and trade), we believe the U.S. dollar could become vulnerable to a loss of value relative to a more diversified basket of currencies, including gold" the bank wrote. Unsurprisingly, this received no attention in the US media but it was covered abroad, particularly in Russia.