Usd/Cny

Those who’re eagerly awaiting the terminate of the “dollar hegemony,” or the terminate of the dollar equally the summit global reserve currency, well, they’ll need about patience, because it’s happening at a glacial measuring – according to the IMF’s only released information on the “Currency Composition of Official Foreign Exchange Reserves” (COFER) for the minute quarter 2018.

What it confirms: Global fundamental banks are e'er in addition to thus slow losing their appetite for beingness over-exposed to US-dollar-denominated assets, though they’re non dumping them from their unusual telephone commutation reserves; they’re only tweaking them....

Wolf Street
US Dollar Refuses to Die equally Global Reserve Currency but Loses Ground

Wolf Richter

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The International Monetary Fund released the Currency Composition of Official Foreign Exchange Reserves (COFER) information for Q2 2018 on Friday. The full of reserves that are broken downwards past times currency went upwards past times $123BN, in addition to unallocated reserves savage past times $243BN. The almost notably observation inwards the COFER study is that reserve managers actively decreased their resources allotment to USD – to a greater extent than than offsetting the number of dollar appreciation – piece at the same fourth dimension adding significantly to non-USD allocations in addition to peculiarly to Chinese Yuan reserves....

Zero Hedge

In Troubling Sign For The US, Reserve Managers Plow Into Chinese Yuan, Dump Dollars