US dollar leading currency peg: ECB paper


A European Central Bank paper published on Tuesday says the US dollar has continuously dominated exchange rate regimes despite some temporary decoupling during major financial crises.

Thierry Bracke and Irina Bunda, the paper's authors, provide a measure of exchange rate anchoring behaviour across 149 emerging market and developing economies from 1980 to 2010 to determine whether exchange rates are pegged or floating, and in the case of pegs, to which anchor currencies they are pegged.


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