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KERRY: Nixing the Iran deal would hurt the dollar

Published by Business Insider on Tue, 11 Aug 2015


NEW YORK (Reuters) - If the United States walks away from the nuclear deal struck with Iran last month in Vienna and demands that its allies comply with U.S. sanctions, the dollar may soon cease to be the world's reserve currency, the top U.S. diplomat said on Monday."If we turn around and nix the deal and then tell them, you're going to have to obey our rules and sanctions anyway, that is a recipe, very quickly .... for the American dollar to cease to be the reserve currency of the world," U.S. Secretary of State John Kerry said at a Reuters Newsmaker event.He added that it would be impossible for Iran, under the nuclear agreement between Iran and major powers, to create a secret program for developing atomic fuel without the United States being able to detect it.(Reporting by Louis Charbonneau, Michelle Nichols and Warren Strobel)Join the conversation about this story
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