NEW YORK (MarketWatch) -- The U.S. dollar pared its losses against other major currencies Wednesday after Treasury Secretary Timothy Geithner clarified his earlier comments, saying that the dollar remains the world's reserve currency.
Geithner said Wednesday the U.S. dollar remains the main global reserve currency and he does not see a change in that status in the foreseeable future.
Earlier this week, People's Bank of China Gov. Zhou Xiaochuan called for a new international reserve currency to replace the dollar.
