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Indeed the dollar first surpassed the pound as the leading currency in the mid-1920s, far earlier than previously thought.
Central bankers of Europe have always used French in talking with each other, but during the long period in which the pound was the world's leading currency English came to be the first language.
It helps, of course, that the dollar remains the world's leading currency, ensuring that demand for United States debt is strong in spite of the nation's myriad financial challenges.
The rating was also bolstered by the role of the dollar as the world's leading currency, ensuring that demand for American debt securities would remain strong in spite of burgeoning deficits.
The euro slipped last year in terms of reserves held by central banks, according to the European Central Bank, while the US dollar continued to hold its positon as the world's leading currency.
In his widely acclaimed book, "Eclipse: Living in the Shadow of China's Economic Dominance," Arvind Subramanian places the rise of the dollar in its historical context and documents how economic policy mistakes, World War II and the collapse of empire undermined the British pound and created space for the United States dollar to take over as the world's leading currency.
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The dollar hovers near low points against leading currencies.
The weakness of the pound against other leading currencies started to help exporters.
Other leading currencies were also near recent highs as the week ended.
After staging a recovery at the end of last year, several leading currencies have lost more ground against the dollar.
OPEC's president tried to reassure markets that prices would not get much higher.Diminishing worthThe dollar fell against leading currencies.
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