The United Arab Emirates is planning to switch 10pc of its foreign reserves from dollars to euros in the first sign of fall-out from Washington's snub to Dubai Ports World last week.Sultan bin Nasser Al Suwaidi, the governor of UAE's central bank, said the plan was designed to achieve a better balance in the $19.1bn reserves of the oil-rich Gulf federation, almost entirely held in dollars. "This policy initiative has nothing to do with the controversy over DP World's bid for P&O operations in the US," he said. In the same breath, however, he denounced the move by the US...