Dedollarization of global FX reserves? Not so fast, Allianz says

News Snapshot:

CFOTO/Future Publishing via Getty Images Recent moves led by China and Russia to challenge the dollar's global dominance has attracted much attention. But Allianz says the greenback's supremacy faces no serious threat, saying "any significant switch will take a long time to evolve". Dollar assets' unmatched liquidity and the private sector's heavy reliance on the greenback will support it over the longer term, according to the German financial services giant. A growing movement among nations from China to Argentina to challenge the dollar's dominance of global trade and investment flows has attracted much attention of late. But the greenback's status...