The global recovery lacks staying power, says the Chinese finance minister. He also says that countries issuing reserve currencies (who could he be talking about?) must maintain economic stability.
The comments on the global situation offset some of the upbeat commentary from earlier when he said that Chinese recovery maintains momentum. This should weigh on EUR/USD, relative to say AUD/USD.
The reserve currency issue was not discussed at the BRIC meeting.
EUR/USD is consolidating around 1.4312 in nervous trade.