Asian Snap: China revives the reserve currency debate and pushes for more Forex diversification - NFP s and ECB rate decision loom.

G10 Advancers and Decliners vs USD
	JPY	-0.263
	EUR	-0.431
	CHF	-0.591
	GBP	-0.934

Vice foreign minister He Yafei said yesterday that he wasn't aware that China had asked the issue of a global reserve currency to be on the agenda for next week's G8 summit. This saw the dollar drop, sending the EURUSD to a high of 1.4201. Despite the consternation at the minister's misinformation his comments on the need for a more stable and potentially non-sovereign global reserve currency...