Back
21 Feb 2014
Flash: G20 could bring up currencies - Westpac Banking Corporation ABN
FXStreet (Guatemala) - Sean Callow, strategist at Westpac Banking Corporation ABN explained that Australia’s data calendar is mostly empty until construction on Wed. But Sydney hosts G20 central bankers and finance ministers this weekend, and currencies could be on the list of topics in discussion.
Key Quotes:
He said, “The G20 is promising a lot of commentary on issues such as infrastructure as a growth driver, multinational tax avoidance and improving global resilience to future economic shocks”.
“The statement due on Sunday should include familiar language on currencies, including reiterating the commitment to “move more rapidly toward more market-determined exchange rate systems” and “avoid persistent exchange rate misalignments”. We don’t see much risk for currencies in the meeting”.
Key Quotes:
He said, “The G20 is promising a lot of commentary on issues such as infrastructure as a growth driver, multinational tax avoidance and improving global resilience to future economic shocks”.
“The statement due on Sunday should include familiar language on currencies, including reiterating the commitment to “move more rapidly toward more market-determined exchange rate systems” and “avoid persistent exchange rate misalignments”. We don’t see much risk for currencies in the meeting”.