CAD and AUD to become reserve currencies

Bloomberg is carrying an article saying the IMF is “considering classifying the Australian and the Canadian dollars as reserve currencies. ”

The IMF, as do many investors, currently consider U.S. dollars, Euros, British pounds, Japanese Yen and Swiss Francs as reserve currencies.

OK – now don’t go out and load up on Loonies and AUD becuase of this, it isn’t a short-term signal of anything; but it may be an important issue over the long-term, providing extra support to these currencies over time.

Bloomberg: IMF May Classify Aussie, Canada Dollar as Reserve Currencies

WSJ: Canadian, Australian Dollars to Get IMF’s Reserve Status (not behind the normal WSJ paywall – go nuts).