Bloomberg.com: U.K.
A few days ago I mentioned something I read on the Jyske Bank site about the British pound gaining ground as a reserve currency. This is a similar piece, albeit with more detail, from Bloomberg.
Iceland 15% of it's reserves in pounds
Norway 9.7%
Sweden 10%
Poland 10%
Latvia and the Ukraine are quoted as planning to add pounds soon. Syria will drop its US dollar peg at the end of the year and might buy pounds too.
For most of the countries the numbers are small to be sure but this point to a trend that I have been writing about for ages; visibility for less global demand for US dollars.
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4 comments:
Hmm, this is a switch. Usually folks are trying to lose pounds. (I know. Argh.)
"be sure to try the veal"
"I'll be in reno the week of the 21st"
"goodnight everybody"
humor, even groan induding humor, always welcome
According to this Harvard article the Euro could displace the Dollar anywhere between 2019 and 2024. No chance of the Pound becoming king.
http://www.ksg.harvard.edu/programs/mpaid/faculty_articles/currency_competition.htm
CrossProfit.com
The new look to the website. Looks like it got a pounding.
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