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      Forex Flash: When G7 does a G20 – Societe Generale

      Sebastien Galy, Senior FX Strategist at Societe Generale believes that the subtext for the rather non-eventful G7 statement is that the consequences of domestic policies for the rest of the world are of limited importance.

      He feels that it justifies the stance taken by the US, UK, Japan or Switzerland, with the last odd man out the Eurozone. He writes, “Even there, there has been an attempt by Draghi to clarify how he expects a higher currency could impact his inflation target and hence policy. Even within Europe, the theme of internal “devaluation” is in fashion playing around with taxes and other incentives with Germany’s example taken as a lead.”

      Forex Flash: Rogue G7 source says nothing new – BBH

      Brown Brothers Harriman analysts feel that there was nothing in the rogue G7 sourced comment yesterday that Japanese Finance Minister Aso did not say prior to the G7 statement and before the weekend.
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      Forex Flash: Currency War detracting from real underlying dynamics – BBH

      Brown Brothers Harriman analysts feel that for all the attention currency wars are receiving may be distracting investors and policy makers from the real underlying dynamics.
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