LONDON, Oct 12 (Reuters) - The currency emphasis of the Group of Seven finance chiefs' Istanbul meeting last week was that the dollar should depreciate against "emergent Asia".
ECB Governing Council member Guy Quaden was explicit, saying, "The problem is not the exchange rate of the dollar against the euro but rather the relationship between the dollar and certain Asian currencies -- to mention one, the Chinese yuan."
For the G7, China is the elephant in the room. The trouble is you cannot push an elephant around....
ECB Governing Council member Guy Quaden was explicit, saying, "The problem is not the exchange rate of the dollar against the euro but rather the relationship between the dollar and certain Asian currencies -- to mention one, the Chinese yuan."
For the G7, China is the elephant in the room. The trouble is you cannot push an elephant around....
