1. The dollar was therefore the key currency under the adjustable peg system.

2. Even with key currency talks and some measures to counter inflows, an investor stampede into emerging markets is showing no signs of abating.

3. The U.S. Treasury will next month issue a key currency report and contention over policy toward China could be magnified by mid-term Congressional elections in November.

4. Only RMB plays as a"key currency"in this sub-area can it benefits from the competing with other international currencies.

5. But, sooner or later the overhang of monetary liabilities would undermine confidence in the key currency.