Dollar And Euro To Form Bipolar Monetary System, Bergsten Says

FOREX '98

GENEVA--The US dollar's unrivalled position as the world's reserve currency is about to be challenged, said Dr C Fred Bergsten, director of the Institute for International Economics in Washington, DC, at Forex '98 in Geneva on June 6. The arrival of the euro will create a bipolar monetary system, whereby the dollar and the euro will coexist in a position of "rough equality", he said.

Addressing delegates of the ACI: The Financial Markets Association's 40th annual congress, Bergsten said that

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