Central Banks in Asia Battle a Flood of Cash.

The article discusses rising foreign-currency balances of several Asian nations. Central banks in China, South Korea, and other countries have been purchasing foreign currencies including the U.S. dollar, and at the close of June, 2014 had a collective foreign-reserve balance of $7.47 trillion. Economist Frederic Neumann says Asian central banks have been acting in response to the U.S. Federal Reserve's policy of quantitative easing.