SWFs look beyond the US dollar
Alex Patelis, head of international economics at Merrill Lynch in New York, said SWFs' proportional allocation to the greenback is likely to go down, while the share of all other currencies, including the yen, should increase.
According to the IMF quarterly Currency Composition of Official Foreign Exchange Reserves statistics released last week, global foreign currency reserves rose to $6.04 trillion at the end of the third quarter in 2007, a 27% rise from the same period in 2006.
While dollar
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