The week ahead in FX (16-20 June 2008) |
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G7 finance ministers will meet in Osaka over the weekend without central bank governors. Without the power to set interest rates the meeting is without the usual edge and will probably not move markets much. In our view, coordinated intervention in the currency market is currently unlikely; the US is still mostly worried about the downside risks to the economy, the ECB has adopted a quite hawkish stance and the BoJ is left in the middle without any clear bias. Consequently, we can sit back
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