G7 finance ministers and central bank governors issue a joint statement reaffirming their...

|By:, SA News Editor

G7 finance ministers and central bank governors issue a joint statement reaffirming their "longstanding commitment to market-determined exchange rates and to consult closely in regard to actions in foreign-exchange markets." The statement is seen as an attempt to defuse growing fears about a global currency war, although Joe Wiesenthal reckons it's fairly weak and "has no big implications at all."