China’s vice fin min on Reuters

  • says its no time to be arrogant while structural problems in Europe are far from solved
  • US Fed tapering is drving capital flight and currency depreciations but emerging markets have structural problems
  • says pressing task is to enhance economic policy co-ordination.
  • no need for rescue plans now

First warning shot across the US bows from the G20 summit

Little impact on price action

EURUSD 1.3171

GBPUSD at 1.5612 beneftting from USD sales, GBPCHF buying and EURGBP selling