Geithner clarifies himself: Dollar still world’s currency
NEW YORK (MarketWatch) — Treasury Secretary Timothy Geithner said Wednesday the U.S. dollar remains the main global reserve currency and he does not see a change in that status in the foreseeable future. Earlier this week, People’s Bank of China Gov. Zhou Xiaochuan called for a new international reserve currency to replace the dollar. Speaking in New York, Geithner said that Zhou was “a sensible man” and that “everything he said deserves consideration.” The dollar fell sharply after those remarks, prompting a clarification from Geithner.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
