Reserve managers set to increase demand for AUD, NZD - SocGen

FXStreet (Bali) - Reserve managers should increase their demand on AUD and NZD, notes Societe Generale, in a note to their clients.

Key Quotes

"Based on a study of 87 reserve managers, we estimate they likely will diversify out of USD by buying 67% EUR,11% JPY, 11% AUD, 5.4% GBP, 2.5% NZD and smaller currencies."

"In the coming quarters, they likely will buy fewer EUR, more AUD, NZD, KRW and some CNY. The Duration is 2.6 years and should steadily rise."