Below are a couple of snips from a Bloomberg piece speculating on possible G-20 actions re the US dollar at their meeting in Pittsburgh this week. Nothing, so far, on PMs.
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http://www.bloomberg.com/apps/news?pid=20601101&sid=aWtNXDQyBLJk
The dollar weakened for the first time in three days against the euro on speculation Group-of-20 leaders this week will call for gains in other currencies to help reduce global trade imbalances.
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The greenback fell versus 14 of the 16 major currencies after a spokesman for Canadian Prime Minister Stephen Harper said the leaders meeting in Pittsburgh on Sept. 24-25 will discuss "a framework for balanced and sustainable growth," including reform in deficit and surplus countries.
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"There's talk that world leaders may seek to address the U.S. imbalances," said Masashi Kurabe, head of currency sales and trading in Hong Kong at Bank of Tokyo-Mitsubishi UFJ Ltd., a unit of Japan's biggest publicly traded bank. "This may lead to weakness in the dollar."
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Policy makers need to promote a "sustained growth track and facilitate global adjustment, as well as structural reform which will need to be undertaken in both deficit and surplus countries," Dimitri Soudas, a spokesman for Harper, told reporters yesterday in Ottawa.
