The dollar withstands suprisingly well the panic in the financial markets. Dollar assets stay the most popular to invest. Even in financial crises the persistent demand for Amercican assets is remarkable. The size, liquidity, efficiency and transparency of the American financial market attracts foreigners to invest in America. The dollar satus as the global currency reinforces the appetite for the currency. Private investors feel safe by bying the same currency that central banks keep. Savers still find that they sleep a litlle easier with dollars under the mattress, rather than other currencies.
Vincent Tavernier
http://www.economist.com/research/articlesbysubject/displaystory.cfm?subjectid=348930&story_id=12341545
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