IMF repeats dollar dominant; will remain so for foreseeable future

IMF economist Lipsky says the the dollar is the dominant reserve currency and will remain so for the foreseeable future. The idea of an alternative currency is a topic worthy of study but it it is not a near-term issue, he says.

One interesting factoid from Lipsky: About 50% of US toxic assets ended up on the balance sheets of European banks…

UPDATE Lipsky says Greece has the same rights to IMF help as any member but says the EU has made it clear they want to handle the matter on their own.

EUR/USD is stalled in the low 1.3750s.