markets, was evident in a number of countries. Notably, however, China’s dollar liquidity needs received little attention …The need for US dollar funding during the financial stresses in mid-March 2020, as the COVID pandemic news shocked …. Given China’s deepening economic and financial linkages to the United States and rest of the world, financial instability …

individual countries. The evolution of this aggregate indicator suggests that the US dollar has continuously dominated exchange …

individual countries. The evolution of this aggregate indicator suggests that the US dollar has continuously dominated exchange …

the U.S. dollar. To avoid further turmoil, the IMF now argues that these currencies should float more freely. However, our … econometric estimations show that the dollar's predominant weight in East Asian currency baskets has returned to its pre …-crisis levels. By 2002, the day-to-day volatility of each country's exchange rate against the dollar has again become negligible. In …

intervention currency in the world. The dollar became such an important currency after the shift from the British pound which …, during the gold standard, was the world's reserve currency until the first decades of the XX century. The dollar retained its …For nearly a century the US dollar has been unchallenged as the sole and later the most important reserve and …

a new regime was introduced for setting the fix—the midpoint of the CNY's daily trading range against the U.S. dollar … dollar cross rates. While highly predictable, the fix is shown to have uneven predictive power for the subsequent evolution … volatility. On days of broad dollar strengthening, the CNY is found to depreciate against the dollar but appreciate against the …

dollar. These soft pegs made them vulnerable to a depreciating yen, thereby aggravating the crisis. To limit future … the yen in East Asian currency baskets. However, dollar pegs are entirely rational from the perspective of each Asian … domestic price levels. Post-crisis, as the East Asian economies transform themselves from being dollar debtors into dollar …