China key to euro fortunes

Comments from senior Chinese officials should always be taken at face value. As a result we argued that the recent requests for some form of reassurance from the US authorities that they are prepared to support the US dollar should be taken seriously. On the assumption, however, that the White House and the Treasury Department will do little more than reiterate Secretary Tim Geithner’s heartfelt but insubstantial support for a “strong USD” we need to start asking quite what Chinese officials