Spreadex Market Update
Euro markets relatively quiet
One of the major talking points going into the G-20 meeting was the issue of currency wars and this was of course something that was discussed at length over the weekend. G-20 finance ministers and central bankers ended talks pledging not to target there exchange rates for competitive purposes.
This will come as welcome news to some following the yen’s 14 percent drop against the dollar in the last 3 months. However, G-20 policy makers refused to single out Japan meaning the yen may weaken toward 100 per dollar in the next few months, UBS AG said in a report.
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