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Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 - 617480280
The U.S. dollar is the world's reserve currency. Today, this means that it is the most coveted of all currencies per global central bank reserves (see chart below). While major financial institutions and investors naturally favor USD given that it is highly liquid, many important and popular commodities, such as gold and oil, are also priced in USD.
(Source: Bank of International Settlements. BIS data suggests major FX reserves favor USD in the region of 50%, while IMF data indicates that more than 60% of central bank reserves are denominated in USD.