The U.S. dollar fell sharply Wednesday following comments by Treasury Secretary Timothy Geithner, who said that the U.S. is "quite open" to China's suggestion of moving towards a Special Drawing Right (SDR) linked currency system, said Kathy Lien, director of currency research at GFT. Meg Browne, a strategist at Browne Brothers Harriman, said that the market has "blown this [the comments] way out of proportion. [President] Obama has said that there's no need for another reserve currency. To use the SDR as a new reserve currency is really a stretch."
