International Forex Inforamtion

Dollar falls further today as more reserve talk from China. PBoC said in the annual financial stability report release today that there is a need to create a "super-sovereign reserve currency" that's delinked from the economies of the issuers so as to "prevent the deficiencies in the main reserve currency". Without naming the dollar, the report also said that "an international monetary system dominated by a single sovereign sovereign currency has intensified the concentration of risk and the spread of the crisis." The bank also urged IMF to manage part of its members' FX reserves. However, some support is seen in early US session as commodity pares earlier gains. Crude oil reached as high as 71.29 earlier today but is back under 70 level while