Forex Technical & Market Analysis FXCC May 13 2013

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[b]Forex Technical & Market Analysis FXCC May 13 2013

Japan rests re-assured not labeled 'currency manipulator' by G7

Over the weekend, the G7 re-assured the market that Japan is not deliberately weakening the yen in order to create a competitive advantage against other industrialized nations. The group repeated its old same lines about its commitment to avoid artificial currency devaluation for domestic gain purposes, while re-iterating its commitment to avoid volatility in FX rates. According to Mike Paterson, editor at Forexlive: "The general consensus seems to be they accept Japan