Sunday, February 24, 2013

The G20 Is Not Tangent To The Policy, Japan Yen Tumbles

G20 Tak Singgung Kebijakan Jepang, Yen Tumbang

Monexnews-the Yen weakened against the U.s. Dollar reversed amid expectations that the G20 Summit at the weekend will not offend Japan monetary policy which increasingly erode the exchange rate of Yen. The currency market had previously hit by the tension after the G7 Member countries issued a joint statement stating that the domestic economic policy should not be used to control the currency.

"News coverage surrounding the results of the G20 Summit has forced the Yen again weakened," said Nick Bennenbroek, head of currency strategy for Wells Fargo in New York. "The G20 is likely to urge its members to avoid a currency devaluation competition, but will not repeat a statement similar to that leveled the G7." (vid)

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Title Post: The G20 Is Not Tangent To The Policy, Japan Yen Tumbles
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Author: Mohammad Zulfi Satriawan

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