And I appreciate the recent statements by the US authorities – namely the US Secretary of the Treasury and the Chairman of the Federal Reserve – reiterating that a strong dollar vis-à-vis other major convertible currencies is in the interest of the United States. I share this view entirely.
A dollar that is credible among the major currencies  2  BIS Review 157/2010  of the advanced economies is in the interest of the United States, of Europe and of the entire international community. On the other hand, the second topic concerns the currencies of emerging market economies which have current account surpluses and exchange rates that are not sufficiently flexible.