World Banks’ Zoellick: ‘Everyone’ recognizes dollar will remain pricipal reserve currency

In a Reuters interview, World Bank chief Zoellick says that the dollar will remain the principle reserve currency and that the US should take comments from those like and China and Brazil seriously and fix its fiscal position once the present crisis passes.

It is premature to assume the Global economic recovery is stable, the banker said, and that follow-through from the G8 on earlier commitments is necessary to ensure recovery.

EUR/USD is still struggling, now at 1.3947 despite US equities bouncing a bit from there lows.

1.3900 and 1.3875 are supports blwo the market.