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Wednesday, June 11, 2008

G8 May Talk FX But Won't Be On Communique

0151 GMT [Dow Jones] Comments from Japan MOF official echo view of many FX traders: Tells Dow Jones that G8 finance ministers may discuss FX (especially given everything that has happened of late on USD); but adds FX won't be part of formal G8 communique. Japan Vice Finance Minister Tsuda weeks ago said main discussion themes would be 1) world economy and issues surrounding it, 2) climate issues and 3) development issues; many analysts expect a large focus on high oil prices. FX would naturally be a part of such discussions, but unlikely to be key focus, especially as central bankers not taking part. Traders say they don't expect G8 to mention anything on FX beyond what was said at last G7 meeting.(TMO)

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