Japan Reaffirms G7 Commitment Not To Target FX Devaluation

Japan and the United States reaffirmed on Tuesday a commitment by the Group of Seven and the Group of 20 economies that their policies are not targeting exchange rates, a Japanese finance ministry official said.

The reaffirmation was made during a meeting between Japanese Finance Minister Taro Aso and U.S. Treasury Secretary Jack Lew, the official said, declining to comment further on what the two sides discussed on currencies.

Lew was visiting Japan as part of a tour in Asia this week. He also met with Prime Minister Shinzo Abe and Economics Minister Akira Amari.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza