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Major nations should back dollar as key currency: Japan

Posted By admin On July 3, 2009 @ 3:50 am In Money Watch | Comments Disabled

Reuters [1]
Friday, July 3, 2009

TOKYO (Reuters) – Major countries should support the dollar as the key international currency, although emerging nations may discuss a new global reserve currency on the sidelines of the G8 summit next week, a Japanese official said on Friday.

China has asked for debate on a new global reserve currency when leaders from the Group of Eight (G8) meet with the G5 emerging economies next week in Italy, G8 sources told Reuters. News of the Chinese request pushed the dollar down to a three-week low on Wednesday.

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Major nations should back dollar as key currency: Japan 290509banner [2]

But Japan thinks it would be difficult for another currency to replace the dollar as the world’s global reserve currency and it is against any move that would unnecessarily weaken the status of the dollar, said Yoichi Suzuki, director-general of it is against any move that would unnecessarily weaken the status of the dollar, said Yoichi Suzuki, director-general of

the Japanese foreign ministry’s economic affairs bureau and one of the country’s main coordinators for the G8 summit.

Full story here. [1]


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URLs in this post:

[1] Reuters: http://www.reuters.com/article/newsOne/idUSTRE5621DR20090703

[2] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[3] China To Challenge US Dollar Reserve Currency Status: http://www.prisonplanet.com/china-to-challenge-us-dollar-reserve-currency-status.html

[4] Calls grow to supplant dollar as global currency: http://www.prisonplanet.com/calls-grow-to-supplant-dollar-as-global-currency.html

[5] China ‘Super Currency’ Call Shows Dollar Concern: http://www.prisonplanet.com/china-%e2%80%98super-currency%e2%80%99-call-shows-dollar-concern.html

[6] Dollar drops on reserve currency doubts: http://www.prisonplanet.com/dollar-drops-on-reserve-currency-doubts.html

[7] China and Japan to begin direct currency trading: http://www.prisonplanet.com/china-and-japan-to-begin-direct-currency-trading.html

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