BLBG: Yen Falls Versus Dollar as G-20 Draft Said Not to Mention Rates
The yen fell versus the dollar after a Group of 20 official said the latest draft of the nations’ statement doesn’t echo the Group of Seven view that exchange rates shouldn’t be a target of policy.
The G-20 will urge members to avoid competitive devaluations and to let their exchange rates be set by markets, the official said. The latest draft removes a line from a Feb. 11 draft which said monetary policy should be directed toward price stability, while supporting economic recovery, the aide said.
To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net
