Sovereign Wealth Funds Reducing Exposure to U.S. Dollar
July 18, 2008 at 10:37 AM EDT
State-run sovereign wealth funds are diversifying away from the U.S. dollar , as well as dollar denominated assets, at an unheralded pace, as the greenback’s protracted declined undermines the credibility of U.S. policymakers. The Financial Times reported yesterday (Thursday) that one large, unnamed Gulf…