More on the G20 draft communique

Yesterday we saw Bloomberg reporting on the draft G20 communique,; Bloomberg had seen an early copy (before the meeting had even begun … seriously?).

Further details from Bloomberg have already been published in the press, lets take a quick look at one report: G20 to avoid devaluing currency, draft statement says (Oh, and lets not nit-pick the newspapers for confusing ‘devaluation’ with ‘depreciation’).

• G20 nations will affirm a commitment to avoid weakening their currencies
• suggests G20 members will withhold direct criticism of Japan’s efforts
• Yi Gang (a PBOC deputy chairman) – yuan’s trading band will be widened “in the near future”

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