Headlines from the IMF report to the G20

  • US dollar has depreciated modestly toward medium-term fundamentals
  • Near term risks to global economy have eased but growth will be slow to pick up
  • US must act early to raise debt ceiling to avoid market turmoil
  • Financial conditions in emerging markets set to ease in short run but mon pol may have to tighten

The IMF headlines are countering the drop in USD/JPY from the Philly Fed.