All together now: Reserve status secure

I missed this the first time around, but the IMF’s number 2, John Lipsky, says the dollar will retain its reserve currency status for “as far as we can see”. After weeks of talking down the greenback, officials from BRIC countries have begun to back-pedal as well, and the dollar has recovered nicely. A few weeks ago, Lipsky, the IMF official,opined that the SDR could be a potential replacement for the dollar in the long-term, but he appears to be backing down for now. EUR/USD is consolidating around 1.3770, well below the 1.3800 neckline.

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