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World must recommit to market-based currencies: U.S. official

Posted on 12 February 2013

Group of 20 member nations must avoid beggar-thy-neighbor currency policies and the richest advanced economies need to stick to their long-standing rule to let market forces set their exchange rates, a senior U.S. official said on Monday.
Treasury Undersecretary Lael Brainard, the top U.S. official for international economic affairs, said fiscal and monetary policies should be aimed at achieving domestic objectives, as opposed to targeting a weaker currency to bolster exports………………………………………..Full Article: Source


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