SubscribeAsian Snap: China revives the reserve currency debate and pushes for more Forex diversification – NFP’s and ECB rate decision loom.
July 2nd, 2009 • Related • Filed Under
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Vice foreign minister He Yafei said yesterday that he wasn’t aware that China had asked the issue of a global reserve currency to be on the agenda for next week’s G8 summit. This saw the dollar drop, sending the EURUSD to a high of 1.4201. Despite the consternation at the minister’s misinformation his comments on the need for a more stable and potentially non-sovereign global reserve currency… | ||||||||||||||||||||
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