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COFER to List Aussie and Loonie as Line Items for First Time Friday

Posted by WorldWideMarkets . on Jun 25, 2013 3:30:00 AM

The International Monetary Fund's quarterly foreign exchange report will for the first time on Friday separately list the size of holdings in the aussie and loonie. The previously announced change was long known but still anticipated by investors. The IMF has historically only listed the U.S. dollar, the euro, the yen, the pound and the Swiss franc, lumping everything else into “other”. While the aussie and loonie were regarded as less important that was fine. But in recent years their economies have grown more important globally as signified by their rise to parity with the greenback.  The thinking is that the two currencies were also in higher demand as central banks sought to diversify FX reserves. The interesting point will be which one is the greater investor favorite. Expect volatility in the cross if nothing else as some investors buy the one seen to have higher demand at the expense of the otheraussie resized 600Loonie resized 600


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