FX fact: One world currency and Armageddon
MARKET NEWS
Forex traders are famously averse to the concept of one world currency, which was last discussed by the International Monetary Fund (IMF) in November 2000.
Canadian Nobel-prize-winning economist Robert Mundell has repeatedly called for a global unit of account. He last proposed a fixed exchange rate between the G3 currencies -- the US dollar, the euro and the yen -- to provide a platform for the subsequent development of a universal currency, in November 2000. Most market participants reject
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