Large SWFs start reducing exposure to U.S. dollar

07/17/2008 | Financial Times (free content)

Large sovereign-wealth funds in the Persian Gulf area and China are looking to reduce their dollar holdings as concern about the currency continues to mount. Late last year, Kenneth Shen of the Qatar Investment Authority voiced such concerns at a Hong Kong conference. "The outlook for the U.S. dollar is a significant issue for investors contemplating U.S.-related investments," Shen said. The Abu Dhabi Investment Authority remains committed to the dollar.

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