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FEB 18, 2013 - Business Insider

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The G20 Gave The Green Light For Massive Yen Devaluation

The following are the word from the G20 final communiqué that could weigh on the FX markets in coming days: - We will refrain from competitive devaluation. - We will not target our exchange rates for competitive purposes. That sounds pretty impressive, right? No mincing words on the issue of the day. Well, you have to consider who is doing the talking. Follows is the list of G-20 countries. In my book, Canada and Australia have done a pretty good job of not manipulating their currencies (and they’ve paid a price). The other 18 players at this table are all messing with their ... Read More

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