Yep, there is a G7 meeting on.
Can there ever be enough meetings?
Maybe I'm just ****ed 'cause I wasn't invited :-D
- G7 ministers and central bank heads convened on Wednesday
- It's a 3-day meeting
- Runs through until Friday
Comments from Standard Bank's Head of G10 Strategy Steve Barrow on what to watch for:
- What will the finance ministers have to say about exchange rates, especially the "rising dollar"
- Says its "unlikely that G7 ministers will make a song and dance about recent developments"
- He doesn't see the EUR/USD level at present as a strong cause for concern
- Says the market is short EUR/USD
- Is watching from comments on China and the role of the yaun... "The world arguably needs a rival to the dollar; but the euro's not proving a match in light of the debt crisis. Instead it's China that's coming up super-fast, with hopes for SDR inclusion just the latest step in the future internationalisation of the currency. Perhaps that's one reason why the US delegation will actually be focussed more on the currency that's not represented at G7 (the renminbi) than the ones that are."
