„In 2008, an academic study by Mr Frankel and Menzie Chinn, a professor at University of Wisconsin — Madison, predicted that by 2022 the euro would surpass the dollar as the world’s leading reserve currency. At the time, the euro was powering towards its all-time high, peaking close to $1.60 in April of that year to round off an 82 per cent rise against the dollar. In the same period, the dollar index shed 40 per cent of its value, hitting a record low in March that year.“