| As negative interest rates make the euro and yen less attractive, one big bank is making a bet on the South Korean won. That bank is the Reserve Bank of Australia. And its move this week could be a bet that negative interest rates will be with us for a while.
The won got its endorsement, when the RBA said on Tuesday that it will invest 5 per cent of its $US50 billion worth of foreign-exchange reserves in the South Korean currency. That shift came at the expense of the RBA’s euro holdings, whose share of the balance sheet has fallen...............................................Full Article: Source
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