Asian central banks are preparing to meet any shift from US Fed chairman Jerome Powell (above) with a wall of currency firepower. Photo: AFP Asian central banks are preparing to meet any shift from US Fed chairman Jerome Powell (above) with a wall of currency firepower. Photo: AFP
Asian central banks are preparing to meet any shift from US Fed chairman Jerome Powell (above) with a wall of currency firepower. Photo: AFP

US dollar war chests swell in Asia as central banks ‘learn from the past’

  • Central bank holdings of foreign currencies in Asia’s fast-growing emerging economies hit US$5.82 trillion last month
  • China’s foreign-currency holdings rose to their highest level in five years in May on the back of a weaker US dollar and increased portfolio inflows

Topic |   Foreign exchange market
Asian central banks are preparing to meet any shift from US Fed chairman Jerome Powell (above) with a wall of currency firepower. Photo: AFP Asian central banks are preparing to meet any shift from US Fed chairman Jerome Powell (above) with a wall of currency firepower. Photo: AFP
Asian central banks are preparing to meet any shift from US Fed chairman Jerome Powell (above) with a wall of currency firepower. Photo: AFP
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