Published by Mark Smith-HalvorsenPacific Investment Management Company (Pimco) has urged traders not to be too concerned about the weakness of the dollar, as it will play an instrumental role in global economic recovery.Writing on the company website, Scott Mather, head of global portfolio management at Pimco, stated that even as the dollar flirts with multi-year lows, further slumps are to be expected, although "not necessarily feared".He added that while alarmist factions would have traders believe that a weakening in the US dollar will pull the country into a depression, an "orderly" decline may in fact have an obverse effect.This, he explained, is because "a weaker US dollar is not synonymous with a loss of reserve currency status or unavoidable hyperinflation."Pimco operates the world's largest bond fund and has this week posted an open letter to its new investors stating its commitment to performance within the "new normal" conditions of the global economy.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site