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THE US dollar came under renewed pressure yesterday on fresh reports that American forces were gearing up for imminent military action in Iraq, heightens the risk of holding the greenback and US dollar-backed assets.
THE US dollar Asian Bond Fund (ABF) launched yesterday will be a stepping-stone to ABF bonds denominated in regional currencies.
STANDARD amp; Poor#039;s (Samp;P) Ratings Services has described the creation of the US$1bil Asian Bond Fund set up with pooled funds from 11 Asia Pacific central banks and monetary authorities as a positive development in regional financial cooperation.
Eleven Asia- Pacific nations will formally launch a new US$1bil Asian bond fund tomorrow, drawn from their huge central bank reserves to speed up the development of a regional bond market.