UPDATE 1-U.S. dollar reasonably valued- IMF top official

* IMF's Lipsky says U.S. dollar reasonably valued

* Other major currencies not significantly out of line

* Latest economic data better than expected

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JACKSON HOLE, Wyo., Aug 21 (Reuters) - The U.S. dollar appears to be reasonably valued, while other major currencies are not significantly out of line, a senior International Monetary Fund official said on Friday.

"In broad terms when we look at the dollar on a broad trade-weighted and inflation-adjusted basis, actually the U.S. currency appears to be reasonably valued by fundamentals and medium-term standards," IMF First Deputy Managing Director John Lipsky said in an interview with Reuters Television.

"In general, the major traded currencies are not significantly out of line from our notions of medium-term equilibrium," he said during the Kansas City Federal Reserve Bank's annual symposium.

On July 31, the IMF said the U.S. dollar was "moderately overvalued" also noting the currency had been volatile because of safe-haven flows into U.S. assets during the global economic crisis.

Lipsky said the latest raft of economic data from around the world had been more positive than expected, but he suggested the IMF would not significantly revise its forecast for global growth next year.

"The latest data have been on balance more positive than expected but I don't think we're talking about a major change in the outlook," he said.

"We have been anticipating a return to global growth in 2010, but one that had risks to the downside and a likelihood that the rebound is going to be relatively modest one by historical standards," Lipsky added.

The IMF forecast last month that the world economy would expand by 2.5 percent next year after shrinking 1.4 percent this year.

The Fund is expected to update its forecasts for global growth in early October.

The IMF's No.2 official said the recent raft of positive economic news mainly reflected the impact from fiscal and monetary stimulus in major economies, as well as an initial impact from businesses rebuilding their inventories.

"What remains to be seen is whether that expansion will be sustained, whether it will move into private sector spending, especially consumption spending in the United States and elsewhere," Lipsky said. (Reporting by Daniel Burns, Writing by Lesley Wroughton; Editing by Diane Craft)