FXstreet.com (Barcelona) - The USD has fallen quickly after Timothy Geithner, Secretary of the US Treasury Says US is quite open to China's suggestion of moving towards a Special Drawing Right (SDR) linked currency system.
The USD/JPY falls 120 pips from 98.09 to 96.89 in the first minutes after after Geithner says open to SDR currency. Currently, the pair is trading around 97.50 level.
In other comments, Geithner says that Europe is 'Fundamentally' With US on crisis response. Finally, Geithner announced that US will act to hold dollar key reserve currency.