Strong dollar 'very important' to US: Geithner
PITTSBURGH, Pennsylvania (AFP) - – US Treasury Secretary Timothy Geithner said Thursday that a strong dollar is "very important" to the United States, at the opening of the Group of 20 summit in Pittsburgh.
The embattled US dollar is expected to come under scrutiny at the two-day summit of rich and emerging economies following China-led calls to review its role as a reserve currency.
"A strong dollar is very important to the United States," Geithner said at a news conference.
US President Barack Obama and other G20 leaders are to discuss a new framework for tackling the global economic imbalances blamed for fueling the global financial and economic crisis.
The US Treasury chief also said the G20 was prepared to agree on "very detailed standards" on lavish bonuses in the banking sector that had encouraged excessive risk taking in pursuit of short-term profits, pumping up the financial bubble that collapsed, pushing the world economy into a tailspin.
Geithner said the US is confident the G20 leaders will make progress on reform of the International Monetary Fund and the World Bank to give a greater voice to the developing countries at the sibling Washington-based institutions.
PITTSBURGH, Pennsylvania (AFP) - – US Treasury Secretary Timothy Geithner said Thursday that a strong dollar is "very important" to the United States, at the opening of the Group of 20 summit in Pittsburgh.
The embattled US dollar is expected to come under scrutiny at the two-day summit of rich and emerging economies following China-led calls to review its role as a reserve currency.
"A strong dollar is very important to the United States," Geithner said at a news conference.
US President Barack Obama and other G20 leaders are to discuss a new framework for tackling the global economic imbalances blamed for fueling the global financial and economic crisis.
The US Treasury chief also said the G20 was prepared to agree on "very detailed standards" on lavish bonuses in the banking sector that had encouraged excessive risk taking in pursuit of short-term profits, pumping up the financial bubble that collapsed, pushing the world economy into a tailspin.
Geithner said the US is confident the G20 leaders will make progress on reform of the International Monetary Fund and the World Bank to give a greater voice to the developing countries at the sibling Washington-based institutions.
ALL THE WAY TODAY ON 5 M... FORMATION OF HEAD AND SHOULDER U SHULD FIND AGREAT RESULT TODAY 1.4650 BREAK RIGHT SHOULDER. EUR/USD WOULD BE AGOOD LONG POSITION. quote=onetouchopen;3083732]the bull is still hard to beat. im long for today...
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