The dollar hovered near six-year highs against the Japanese yen on Monday, underpinned by expectations the world’s biggest economy will see the start of its rate-tightening cycle sooner-than-expected.
The yen didn’t get any help from the weekend meeting in Cairns, Australia,of finance ministers and bank chiefs from the Group of 20 leading nations, where currencies got little mention.
The G20 said they are tantalizingly close to adding an extra $2 trillion to the global economy and creating millions of new jobs, but Europe’s extended stagnation remains a major stumbling block.
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