How is this not going to affect the dollar in a big way?

Not only will the G8 be dominated by the discussion about a new reserve currency or basket of currencies, but on top of that the world`s biggest countries with a trade surplus (except for Japan and possibly Germany) now all have made it explicit that they are bringing or want to bring down the dollar part of their reserves and some are already eliminating the involvement of dollars in part of their foreign trade.

Frankly, I do not understand from where the dollar is still receiving the support to remain at present levels. This kind of news should be devastating.