G-20 moving against ‘competitive devaluation’

Marketwatch ^ | Feb. 16, 2013, 2:19 p.m. EST | By Steve Gelsi, MarketWatch

[Ernest_at_the_Beach]

Japan has drawn criticism for its moves to weaken the yen against the U.S. dollar.

NEW YORK (MarketWatch) — The Group of 20 finance ministers and central bank governors on Saturday pledged to monitor negative currency spillovers to other countries caused by monetary policies implemented for domestic purposes.

“We will refrain from competitive devaluation,” the G-20 said at its meeting in Moscow.

The G-20 fell short of any direct action related specifically to Japan, which has drawn criticism for policy moves that have caused the yen to lose 17.5% against the dollar in five months. See: Michael Casey's FX Horizons

[3Fingas]

I guess the US is still too big to fail for now. Japan gets slammed for what our Fed has been doing for years.

[Myrddin]

Potentially a good time to pick up a Japanese motorcycle. My only reticence would be radioactive contamination of goods. That would not be a good deal.