China’s Yuan Drive Creates an ‘Opening,’ Euroclear Chief Says

China’s drive to turn the yuan into an international reserve currency is creating an opening and the next step should be matching regulatory requirements with international standards, said Euroclear Chief Executive Officer Valerie Urbain.

Increased market volatility, exacerbated by the war in Iran, is driving investors to diversify away from the dollar, creating demand from Asian and European assets, Urbain said in an interview with Bloomberg TV during the HSBC Global Investment Summit in Hong Kong on Tuesday.