Deepin Moments: US Dollar Status Hunted, 81 Billion US Treasuries Sold off in 1 Month by Global Central Banks

Deepin Moments Nov 1, 2022 As the dollar continues to strengthen, other major non-U.S. currencies have depreciated to varying degrees, and many central banks are fighting a “currency defense war”. In order to sufficient foreign exchange reserves “ammunition” to prepare for intervention in the currency market, global central banks began to sell U.S. bonds for dollars. Federal Reserve data show that as of October 5, the week, global central banks sold as much as $ 29 billion of U.S. debt, the past four weeks of sales amounted to $ 81 billion, the largest monthly sales since the outbreak of the…