Reuters has a very interesting interview with IMF managing director Strauss-Kahn. He says that China will get the biggest increase in the share of votes at the IMF when changes take place in 2011.
“The question of imbalances and governance are totally linked”, Strauss-Kahn said.
China would be expected to increase domestic consumption while the US would be expected to up savings.
Strauss
-Kahn also said that Chinese Yuan is undervalued.
EUR/USD is edging up in recent ranges, now just below 1.4800 after holding above 1.4770 support throughout the US session. Offers are seen at 1.4815/25 near-term and toward 1.4865.
