G7 Tries for Calm, Pound Sags
The G7 nations published a statement avowing their commitment to "market-determined" exchange rates and a U.S. official backed Japan's anti-deflation efforts, sending the yen lower and the euro higher. [CNBC]
A Japanese official said the Japan's policies appropriately support its own economy and markets should set exchange rates, and the yen fell. [CNBC]
The World Bank's new chief economist urged G20 leaders to better coordinate economic policies in order to head off a possible currency war. [CNBC]
Switzerland will keep its floor of 1.20 Swiss francs per euro in place for as long as needed, the Swiss National Bank chief said, and the Swiss franc rose. [WSJ]
British inflation was unchanged, as expected, and the British pound fell. [dailyfx.com]
Disappointing jobs and housing reports that fueled worries about a slowdown continued to weigh on the Canadian dollar. [financialpost.com]
Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.
Learn more: The essential vocabulary for currency trading is on Key Terms Dictionary. Top currency strategies are broken down for you in Currency Class.
Talk back: Tell us what you want to hear about - email us at email@example.com.