King dollar no more

The global financial slump led to a change in the balance of power between the euro and the dollar.
As a matter of fact the dollar soared in value against the euro and resumed its role as a haven. Investors reacted immediately and sold the dollar in favor of the euro. This phenomenon had big consequences. On the one hand the euro reached a two-month high rate of $1.34. On the other hand the greenback tumbled for the first time in thirteen year to a low of 90.57 yen.
All these signs point out that the dollar has lost his reign.

http://latimesblogs.latimes.com/money_co/2008/12/post.html Wouter Staelens