US dollar has been weak for many weeks. Even as the G7 nations conducted a joint intervention to weaken Japanese yen didn’t help US currency to gain versus its other counterparts.

Barry Eichengreen, professor of economics and political science at the University of California Berkeley, thinks that there is no longer a logical reason for the dollar to be the world's only reserve currency as the US accounts for only 20% of the world’s economy. The specialist expects that the European currency will become a global currency in 5 years. Eichengreen also believes in the Chinese government's plan to internationalize yuan by 2020.

Analysts at J.P.Morgan note that US dollar is close to the record minimums on the trade-weighted basis. In their view, there’s a structural shift in the currency markets. The strategists recommend diversifying 15-20% of the investment portfolio to non-dollar assets.

The specialists at BMO Capital Markets are bullish on American currency in the short term. During the next 1-2 years, however, emerging market countries will start regarding inflation levels as too high and will stop trying to depreciate their national currencies against dollar. As a result, the specialists see strong potential decline ahead of the greenback.