Vladimír Urbánek (Kurzy.cz)
Markets  |  February 12, 2013 14:05:51

G-7 wants to calm fears of currency wars Development


The G-7 seeks to alleviate or dispel growing fears of possible currency wars. Finance ministers of the world's most advanced countries in the joint communiqué declared that the primary goal of each country will continue to meet its own domestic or plans for use of domestic instruments. Countries do not target the individual exchange rates.
This attitude is a bit more pronounced than in 2011, when the last G-7 this address.

G-7 dealt with this due to the recent announcement of another round of stimulus in Japan. There is concern that the plan Aimed at combating local deflation will result in weakening the Japanese currency, which is compliant local economy in terms of international trade. The position of the G-7 Yen gives 'free hand', which will lead to further weakening. Only so far weakened against the dollar since mid-November last year by a full 14%.

Topic měnovýh wars is even aktulnější what is coming G-20 meeting, which begins this Friday.

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G-7 chce uklidnit obavy z rozvoje měnových válek

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