August 19, 2019, 15:06


‘Big Consequences’: World Central Banks May Defy Dollar – Reports

‘Big Consequences’: World Central Banks May Defy Dollar – Reports

‘Big Consequences’: World Central Banks May Defy Dollar – ReportsCC0Business08:54 27.03.2018Get short URL14654

With about 64 percent of the globe’s foreign exchange reserves currently denominated in dollars, conditions for buying the euro have reportedly started to show signs of improving.

The world’s largest central banks are considering reducing their dollar reserves, and turning to the euro in light of increasing US protectionism, according to Bloomberg.

“With US protectionism on the rise, a number of Wall Street strategists say the case for the euro has rarely been better,” the news agency reported.

READ MORE: US Resorts to Trade Protectionism Against Chinese High-Tech Companies — Analyst

Bloomberg also cited Wall Street’s top-ranked currency strategist Jens Nordvig as saying that “a half-trillion dollars could flow into the euro in the next two years,” which he said is tantamount to a 25-percent increase in the euro’s reserve share.

READ MORE: Drop it Low: US Dollar Down Under Trump’s Presidency

Citing the lion’s share the US dollar maintains in international reserves, worth 11.3 trillion dollars, Bloomberg pointed out that even a small shift related to diversification and protection against Trump’s trade policy “could have big consequences.”

Sourse: sputniknews.com

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Weather

Moscow

Today08/19/2019
20℃

Tue
08/20/2019
moderate rain

  • moderate rain
  • HI/LO: 26/15
  • Clouds: 0%
  • Wind: 3.24 m/s
  • Wind Direction: WSW
  • Pressure: 1020hPa
  • Humidity: 60%

Wed
08/21/2019
light rain

  • light rain
  • HI/LO: 27/17
  • Clouds: 79%
  • Wind: 0.98 m/s
  • Wind Direction: SSE
  • Pressure: 1023hPa
  • Humidity: 60%

Thu
08/22/2019
moderate rain

  • moderate rain
  • HI/LO: 25/15
  • Clouds: 12%
  • Wind: 3.92 m/s
  • Wind Direction: WSW
  • Pressure: 1018hPa
  • Humidity: 64%

Fri
08/23/2019
overcast clouds

  • overcast clouds
  • HI/LO: 21/13
  • Clouds: 100%
  • Wind: 2.97 m/s
  • Wind Direction: NNE
  • Pressure: 1023hPa
  • Humidity: 55%

Sat
08/24/2019
sky is clear

  • sky is clear
  • HI/LO: 21/11
  • Clouds: 0%
  • Wind: 2.96 m/s
  • Wind Direction: NNW
  • Pressure: 1025hPa
  • Humidity: 48%

Sun
08/25/2019
sky is clear

  • sky is clear
  • HI/LO: 23/13
  • Clouds: 4%
  • Wind: 1.98 m/s
  • Wind Direction: WSW
  • Pressure: 1027hPa
  • Humidity: 54%

Сторонняя реклама



Статьи
Статьи В
Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры
Яндекс.Метрика