Euro mixed as G20 finance ministers grapple with currency war
City Index February 15, 2013 2:15 PM
<p>The euro is mixed in forex trading, as G20 finance ministers deal with the issue of a possible currency war.</p>
The euro is mixed in forex trading this morning (February 15th), as G20 finance ministers meet in Moscow amid fears the international marketplace is bracing for a currency war.
Japan's yen has caused much global concern, as the yen has suffered a major decline, weakening by more than 15 per cent in trading with the dollar since November 2012.
This is because the new government under Shinzo Abe has taken an aggressive monetary stance to try and stoke inflation, while he and the Bank of Japan have expanded key stimulus measures in the country.
Conversely, the euro has risen by six per cent against a basket of currencies, despite the region's economy shrinking in the final three months of 2012. It is feared the strength of the single currency will make its goods appear less attractive to overseas buyers.
At 07:55 GMT, the euro was flat versus the dollar to $1.337 and it depreciated by 0.4 per cent in trading with the yen to 123.05 yen.
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