Dollar falls against yen, euro and pound as G20 ministers meet

The dollar has retreated against its major foreign currency exchange
partners the yen, euro and pound this morning as G20 finance
ministers convene in Moscow.

One of the biggest issues up for discussion between the
decision-makers in the Russian capital is the concern major trading
powers may be heading towards a currency war.

Japan’s monetary standing with regard to the yen has seen a
major decline, softening by more than 15 per cent against the
dollar since November 2012 after the government took an aggressive
stance to stoke inflation and expand key stimulus measures.

The euro meanwhile has enjoyed a buoyant couple of months
against a parcel of currencies, climbing by six per cent in some
cases, which is a worry to some who fear its appreciation could
make the region’s goods less competitive.

At 07:45 GMT, the dollar was lower against the yen, euro and
pound buying 92.530 JPY, 0.644 GBP and 0.748 EUR.