US's Snow says some dollar reserves shift normal

U.S. Treasury Secretary John Snow said on Friday 13 January some countries' movement of reserves out of dollar-denominated assets would have only a small impact on U.S. markets.

"I think some diversification at the margin is certainly to be expected. I don't think it'll have any major ripples on our domestic markets," he said on Bloomberg TV.

"We have the deepest and most liquid markets in the world and that'll continue to be the case," he said.

Separately, Snow said the Treasury is testing

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