Economics commissioner Almunia is not buying into the talk from China or Russia to move toward an “international” reserve currency. He says “everybody” agrees the dollar will continue to be there for a long time as the reserve currency.
Elsewhere, assurances from Congressional firebrand Barny Frank that the Congress will vow to not change the rules on the PPIP program once they are set, avoiding an AIG-like debacle.
EUR/USD trades at 1.3570.