Atlanta's Guynn: cbs adding euros for 6 months

Foreign central banks have been adjusting their reserves to add euros for the past six months and the process has so far been "very smooth," Atlanta Fed president, Jack Guynn said in a speech.

A survey of central banks released on Monday 24 January found increased use of euros as a reserve currency. "I don't expect some kind of major disruption in financial markets" from this process, Guynn said. But the US must take steps to lower the federal budget deficit to reduce the risk of disruption in

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