Free Trial

MNI BRIEF: Dollar Status As Top Trade Currency Boosted - Paper

(MNI) Frankfurt

The US dollar's status as the dominant currency for international trade invoicing has been further strengthened by China's integration into global trade, a study published by the European Central Bank Tuesday found, although the PBOC's establishment of swap lines has had a greater negative impact on dollar use than it has for the euro.

Euro area policymakers will need to safeguard the bloc's openness to trade and value chain if the euro's role as an invoicing currency is to be maintained, is the conclusion of the authors of the working paper titled 'Fundamentals vs. policies: can the US dollar's dominance in global trade be dented?'.

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
True
MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.