SWFs scaling back dollar holdings, says FT
The newspaper reports that the large fund based in the Gulf has cut its dollar denominated holdings from more than 80% of the portfolio to less than 60% in the past 12 months.
China's State Administration of Foreign Exchange is also pursuing deals with European private equity firms in a bid to reduce its dollar holdings.
Sovereign wealth funds hold assets worth an estimated $3.5 trillion.
The dollar was
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