Euro remained second reserve currency in 2022 – ECB report
Structural factors continue to hold back the euro as a reserve currency
In a context of higher financial volatility and geopolitical tension due to the Russian invasion of Ukraine, the euro maintained its place as the second most-used global reserve currency in 2022.
Nonetheless, the currency still suffers from structural deficiencies preventing it from rivalling the US dollar’s hegemony. Although rates are no longer negative, euro-denominated bonds offer lower yields than in the US or UK.
The bloc’s sovereign bond market remains fragmented, with few triple-A
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