OMFIF Survey: For First Time, More Central Banks Plan to Cut Dollar Holdings Than Add
- An OMFIF Global Public Investor survey found that for the first time, more central banks expect to reduce their long-term U.S. dollar allocations over the next decade than increase them, citing U.S. political instability, debt trajectory and a push to diversify reserves.
- 82% of surveyed central banks now hold physical gold, making it the primary beneficiary of the shift; the dollar still dominates reserves but the change in direction is historic (Reuters/Bloomberg).
- The move comes as gold hits records, the yen slides to 40-year lows and a strong dollar is called one of 2026's biggest 'pain trades' by HSBC.