“It is imperative that all G20 countries follow through on their recent commitment not to target exchange rates for competitive purposes,” Tresury Secrety Jack Lew told an audience at Johns Hopkins University’s School of Advanced International Studies. (reuters)
In Washington, G20 finance leaders and central bankers from around the world will gather Thursday and Friday to discuss the monetary status’ of the world. Those gathered are expected to confirm the February pledge mentioned by Lew above that G20 countries will not target exchange rates.
Since the February commitment, the BOJ (Bank of Japan) has decided to inject $1.4 trillion into their economy, a bold move that could bring continued weakness to the Japanese Yen.
Investors and economists will have their ears open. This event is capable of bring big market moves.