Is Currency War Breaking Out in Tokyo?
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Feb. 19 (Bloomberg) -- The G-20 finance ministers’meeting ended on Feb. 16 with the obligatory note of amityon exchange rates. “We will not target our exchange ratesfor competitive purposes, will resist all forms ofprotectionism and keep our markets open,” read thecommuniqué.
The IMF’s Christine Lagarde added her gloss: “We thinkthat talk of currency wars is overblown. People did talkabout their currency worries. The good news is that the G-20 responded with cooperation rather than conflict today.”