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

(MNI) LONDON
(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
TradePolicy NewsCentral Bank NewsEuropean Central BankCEEMEAEuropean Central Bank (ECB) Market NewsBriefGlobalStoryRegion
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
TradePolicy NewsCentral Bank NewsEuropean Central BankCEEMEAEuropean Central Bank (ECB) Market NewsBriefGlobalStoryRegion
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