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Sources say the debate on the dollar's role in the global currency basket might still be avoided due to market concerns (Photo: EUobserver)

ECB chief backs dollar amid calls for reserve currency debate

European Central Bank president Jean-Claude Trichet has praised the US' commitment to the strong dollar as several world powers including France and Russia call for a fresh debate on the global currency system ahead of this week's G8 summit of leaders in Italy.

Asked by journalists on Sunday (5 July) whether the US dollar should remain the world's key currency, Mr Trichet said: "On this issue, I am very very clear. I have just one message. It is extremely important that the US has been ...

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Sources say the debate on the dollar's role in the global currency basket might still be avoided due to market concerns (Photo: EUobserver)

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