Chinese Vice Foreign Minister: No one is talking about “dumping the dollar”

Source: www.forexlive.com

China’s Vice Foreign Minister He Yafel says China has no intention of abandoning the dollar. Speaking at a news briefing on President Hu Jintao’s forthcoming trip to Russia, where he will attend an inaugural summit of the BRIC countries, He Yafel said that the idea of a super-sovereign currency is being discussed by acedemics, but “nobody is talking about dumping the dollar.” The USD has garnered some improvement from the comments, EUR/USD presently at 1.3900 having earlier posted a 1.3963 session high.


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