Wellink says Asia can't maintain dollar buying

Asian central banks cannot continue buying up US dollars forever and the US will have to take action to cut its budget deficit, European Central Bank governing council member Nout Wellink said on Wednesday January.

Wellink said Japan, China and some other Asian countries had built up "unprecedentedly high dollar reserves" due to their policies of stabilising their own currency against the dollar.

"This policy cannot and will not be continued forever. Neutralising the monetary consequences will