Peaking reserves herald bad news for EUR/USD
Deutsche Bank says decades of reserve accumulation now out of steam
Global central bank reserves are likely to peak this year after two decades of "unremitting" growth and will at best stabilise, but more likely decline, in the coming years – a process that would place upward pressure on fixed-income yields and the dollar, according to Deutsche Bank analysts.
The report on central banks' reserves says they have accumulated $10 trillion of assets since the start of the century, mostly concentrated in global fixed-income markets, reducing both bund and US Treasury
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