By Michelle Jamrisko for Bloomberg
Treasury Secretary Jacob J. Lew said the U.S. intends to ensure the dollar stays the world’s leading reserve currency a day after the International Monetary Fund elevated the Chinese yuan into a basket alongside the dollar, euro, yen and pound.
While the U.S. supported the IMF decision, “we’ve also had long, ongoing discussions with China about their currency practices,” he said. “They’ve made commitments to us that they will not intervene in ways that are unfair. And those are important commitments, and they know we’re going to hold them to those commitments.”