Forex Flash: G20 won’t criticise Japan, Europe won’t get a currency policy – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale feels that it would have been very unfair for Japan to be accused of currency manipulation as the government tries to help the economy to escape the clutches of a vicious deflationary cycle.

He writes, “It seems clear that the G20 meeting will result in a communiqué, probably from the G7, endorsing market-determined FX rates but falling far short of criticising Japan. So, business as usual and for those looking for a decent-sized correction to sell the yen into, another boat has probably been missed.”