Australian dollar: a reserve currency
Not a day goes by without rumours of central bank activity in the FX markets. Putting to one side the issue of data quality, and the fact that we have to wait until the annual releases from the IMF and BIS to get a true picture of reserve trends, the data does indeed show a gentle drift away from the US dollar and into other currencies. The euro has been the predominant benefactor but sterling has not been far behind, aided by both debt market liquidity and higher yield.
Data on AUD
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