News Headline Summary

US Treasury's Brainard says US supports Japan's efforts to reinvigorate growth and end deflation

- G20 needs to deliver on commitment to move to market-based exchange rates and refrain from competitive devaluations.
- G7 "very committed" to market-determined and floating exchange rates except in rare circumstances.
- Downside economic risks have eased but global growth weak and still vulnerable.

Reaction details:

- In immediate reaction to the comment that US support Japan's efforts, the USD/JPY moved 22 pips higher from 93.46 to session highs at 93.68.

Print 20:16, 11 Feb 2013 - Economic commentary - Source: Newswires