End of Bretton Woods has helped dollar reserves - ECB

Dollar dominance reflective of reserve 'inertia'

European Central Bank, Frankfurt

The US dollar has continued to dominate currency reserves due to a decline in network effects and the unwillingness of other countries to permit a strong accumulation of their currencies, according to a report by the European Central Bank (ECB), published this month.

Between the end of World War II and the collapse of fixed exchange rates, the ECB notes a shift in FX reserves from sterling to the US dollar, resulting in the latter becoming the reserve currency of choice.

However, since the

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