I have mentioned reading commentaries from Jyske Bank in the past. In today's currency report (the link is to a PDF) they reference an IMF report, that I was unable to find, that shows the British pound has been attracting flows as a reserve currency at the euro's expense. Without saying why, Jyske sees the trend continuing.

I have written quite a few times about the dollar having to share the role of world reserve currency in the future, most likely with the euro. I hadn't thought about the pound in this light and will try to find more on this. If you come across anything along these lines feel free to leave a link.

If this idea ends up bearing fruit, there is an ETF that owns the pound that trades under ticker FXB.

By the way Bob Pisani just gave a stagflation shout on the air, so much for my Bookvar prediction.