Yen edges up ahead of G7 finance minister meeting

AFP, TOKYO:  The yen edged up yesterday ahead a G7 meeting where currencies will be high on the agenda following Japan’s threat to intervene in forex markets to tame the surging unit.
Finance ministers and central bankers from the Group of Seven countries hold a two-day meeting from Thursday in northern Japan, with US President Barack Obama and other G7 leaders attending a separate summit between Tokyo and Osaka next week.
Competitive currency devaluations will be the most pressing topics at this week’s meeting, after Japanese officials said they might wade into markets to stem the yen’s recent rise to 18-month highs against the dollar.
That could breach a G20 agreement not to unilaterally devalue currencies to gain economic advantage.

Yen edges up ahead of G7 finance minister meeting

AFP, TOKYO: The yen edged up yesterday ahead a G7 meeting where currencies will be high on the agenda following Japans threat to intervene in forex markets to tame the surging unit. Finance ministers and central bankers from the Group of Seven countries hold a two-day meeting from Thursday in northern Japan, with US President Barack Obama and other G7 leaders attending a separate summit between Tokyo and Osaka next week. Competitive currency devaluations will be the most pressing topics at this weeks meeting, after Japanese officials said they might wade into markets to stem the yens recent rise to 18-month highs against the dollar. That could breach a G20 agreement not to unilaterally devalue currencies to gain economic advantage.