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G-7 Reaffirms Commitment Not to Target Currencies as Yen Slides

Global finance chiefs reaffirmed their three-month old commitment not to manipulate currencies, signaling acceptance of the weakest yen in four years.

Finance ministers and central bankers from the Group of Seven today agreed “not to target exchange rates,” U.K. Chancellor of the Exchequer George Osborne said after chairing a meeting in Aylesbury near London. He said members have “held to” their February pledge to avoid doing so.