Euro could replace USD as Reserve Currency in 2020

These days, we need to be wary about the U.S. dollar losing reserve currency status. That's why I started to monitor the Global Foreign Exchange Holdings. The data is provided by the IMF and can be accessed here.

If we plot a chart over time, it seems that the USD is losing its status as a reserve currency. Althought the trend of the USD as a reserve currency is negative, it still accounts for 60% of global foreign exchange holdings around the world. The euro on the other hand is increasingly gaining popularity (See Chart 1). If the trend continues like this, the euro could become the reserve currency by 2020.

To see my analysis, go here: Euro to replace USD as reserve currency by 2020