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The dollar was mixed against major currencies Wednesday, partially recovering from a plunge after Treasury Secretary Timothy Geithner said the greenback will remain the world’s “dominant reserve currency.”
The dollar initially tumbled after Geithner, responding to a question about a recent essay by the head of China’s central bank, said the U.S. was “quite open” to an increase in the use of the IMF’s “Special Drawing Rights.”
The 16-nation euro traded at $1.3564 in New York late Wednesday, up from $1.3518 late Tuesday, after previously bouncing as high as $1.3651 on Geithner’s statements. The dollar also sank to 96.89 Japanese yen before trading up to 97.31 yen in late trading. The Associated Press
