Currency markets like an Agatha Christie thriller

Watching the developments in the currency markets feels very similar to reading Agatha Christie&rsquo;s&nbsp; &ldquo;Murder on the Orient Express&rdquo;. <br /><br />Penned in the 1930s in Istanbul, Christie&rsquo;s thriller has you on the edge of your seat with every twist and turn of the plot. <br /><br />It was therefore appropriate that last week&rsquo;s meeting of the World Bank and IMF was located on the banks of the Bosporus.&nbsp; Where better to discuss the issue of the demise of the world&rsquo;s reserve currency than at the point where east meets west? <br /><br />But to determine the future health of the dollar, those attending, like detectives, had to read between the lines and pick up on the clues. <br /><br />That&rsquo;s because none of the policy makers present were willing to openly say that the future of the greenback is in question. Christine Lagarde, France&rsquo;s Finance Minister, told me that she firmly believes in a &ldquo;strong dollar&rdquo;. Yet she quickly went on to say that Europe should not shoulder the burden associated with rebalancing the global economy. The implication being that as the world seeks a new equilibrium it will be inevitable that we will see big shifts in the value of various currencies. <br /><br />And it was a similar theme when it came to the views of the Governor of Saudi Arabia&rsquo;s central bank. Speaking to CNBC, he strongly denied that there was any move to price oil in anything other than dollars. Yet when asked if it would be a good idea, he replied &ldquo;not now&rdquo;. The response, once again, implying that things could be very different in the future for the US currency.<br /><br />Now none of our economic leaders anticipate that the status quo is going to change any time soon. But the once absolute certainty that the greenback will remain the world&rsquo;s reserve currency is starting to fray. <br /><br />The dollar&rsquo;s ultimate decline is, however, only a symptom of a wider move that is happening in the world economy. The planet&rsquo;s economic growth engine is now no longer to be found in America &ndash; it is instead located in the emerging markets of Asia. <br /><br />This is the world&rsquo;s new Orient Express and if Christie had been writing her books now she may well have sent Poirot east rather than west.&nbsp; <br /><br />Whether he would have been able to discover the ultimate cause of the dollar&rsquo;s demise is another question. Guy Johnson co-anchors European Closing Bell and Europe Tonight weekdays on CNBC.