currencies, and the euro serves as a hedge currency. Results for the yen support its role as a carry funding vehicle, but not … the estimation results, two currencies, the Swiss franc and (to a lesser extent) the US dollar qualify as safe haven … analysis of bilateral euro-based exchange rates, given the euro’s prominent role during the euro area sovereign debt crisis. …

economic actors' recent difficulties in using the dollar. The American financial sanctions against Chinese trade partners, the … and banks to use the renminbi as an alternative to the dollar. In addition to contributing to a broader understanding of …