The dollar shouldn’t be allowed to “weaken too much” in the fight against the global recession, an aide to French President Nicolas Sarkozy said. The aide, who briefed reporters ahead of the April 2 summit of the Group of 20 nations in London on condition of anonymity, said the world leaders won’t address foreign-exchange issues, saying it would not be the appropriate forum. Asked about China’s call to last week to create a new international reserve currency, the aide said “it may be a good thing in the long term.” He immediately followed that with his comment about the dollar, saying “it shouldn’t weaken too much in the short term.” A weaker dollar would lead to a stronger euro and hurt European competitiveness. China’s Central bank Governor Zhou Xiaochuan this week urged the International Monetary Fund to expand the use of so- called Special Drawing Rights and move toward a “super-sovereign reserve currency.”

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