A deputy chairman of the Russian central bank is quoted by Reuters as saying it is not discussing changing the composition of Russia’s reserve basket. It presently holds roughly 55% dollars and 45% euros. There has been talk that the percentages would flip-flop owing to Russia’s far more extensive trade ties to the EU than the US.
EUR/USD is steady at 1.3905 after the news. It would have soared if thye opposite had been the case…
