Group of Seven leaders will not use currencies to wage 'economic warfare'

G20 finance ministers yesterday moved to calm fears of looming "economic warfare" on the currency markets, pledging they would not target specific forex rates or devalue currencies to make them more competitive.

The jitters - similar to previous disputes with China - have been set off by Japan's plan for monetary easing to boost inflation and activity by reducing the value of the yen under Prime Minister Shinzo Abe.

via Business feed http://www.scmp.com/business/article/1152031/group-seven-leaders-will-not-use-currencies-wage-economic-warfare