The de-dollarization chatter is back after the IMF COFER data showed a new drop in the relative size of USD FX reserves in Q4-2022. Currently, everyone agrees that the USD will weaken from here, which is when you need to become worried.
![Steno Signals #44 – Are you sure that you prefer another currency to the USD?](https://stenoresearch.com/wp-content/uploads/2023/03/Skaermbillede-2023-03-22-kl.-13.42.55-1080x675.png)
The de-dollarization chatter is back after the IMF COFER data showed a new drop in the relative size of USD FX reserves in Q4-2022. Currently, everyone agrees that the USD will weaken from here, which is when you need to become worried.