G20 defuses talk of "currency war", no accord on debt
G-20 Disavow Targeting Exchange Rates in Strengthened Stance
Group of 20 finance chiefs shifted toward a tougher stance on exchange rates as they sought to tame speculation of a global currency war without singling out Japan for criticism.
After all-night negotiations in Moscow, the club of the biggest developed and emerging economies agreed not to “target our exchange rates for competitive purposes,” according to an official who saw a draft of a statement to be released today and asked not to be identified because the document isn’t public yet. That marks a strengthening of language from previous drafts and runs closer to what the Group of Seven rich nations said earlier this week.
“It was quite clear last night that everyone around the table wants to avoid any sort of currency disputes,” Canadian Finance Minister Jim Flaherty told reporters today. U.K. Chancellor of the Exchequer George Osborne said countries must avoid their past mistake of using currencies “as a tool of economic warfare.”
G20 steps back from currency brink, heat off Japan
The Group of 20 nations declared on Saturday there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concern about the fragile state of the world economy.
Japan's expansive policies, which have driven down the yen, escaped direct criticism in a statement thrashed out in Moscow by policymakers from the G20, which spans developed and emerging markets and accounts for 90 percent of the world economy.
Analysts said the yen, which has dropped 20 percent as a result of aggressive monetary and fiscal policies to reflate the Japanese economy, may now continue to fall.
"The market will take the G20 statement as an approval for what it has been doing -- selling of the yen," said Neil Mellor, currency strategist at Bank of New York Mellon in London. "No censure of Japan means they will be off to the money printing presses."
The expect nothing to nothing from the meeting is here 
Just hope that they had a good couple of meals (and whatever goes with it)
only the finest prepared komodo dragon
Horse is off the menu
Only "the best for the best" The horse meat was just a demonstration of what is good for "us" and is not good for "them" - they are preparing "us" for whatever "they" can not sell differently
only the finest prepared komodo dragon Horse is off the menu
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The Group of 20 nations declared on Saturday there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.
Japan's expansive policies, which have driven down the yen, escaped criticism in a statement thrashed out in Moscow by financial policymakers from the G20, which groups developed and emerging markets and accounts for 90 percent of the world economy.
After late night talks, finance ministers and central bankers agreed on wording closer than expected to a joint statement issued last Tuesday by the Group of Seven rich nations backing market-determined exchange rates.
A draft communique seen by delegates on Friday had steered clear of the G7's call for fiscal and monetary policy not to be targeted at exchange rates but the later version included a G20 commitment to refrain from competitive devaluations and stated monetary policy would be directed at price stability and growth.
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