The main economic factors underpinning the internationalisation of a currency are well known. The first factor is domestic stability, that is a low inflation rate, making the currency attractive as a store of value. The second factor is a high degree of openness to international trade and finance.
In doing so, they are 2/4  BIS central bankers' speeches  bringing forward the day when households feel sufficiently comfortable to increase their spending again. The easing of monetary policy is also supporting a turnaround in housing investment and has also had an effect on the exchange rate, which boosts demand for our exports. So, it is working.