New High for Oil, New Low for Dollar, But China Gets G-7 Focus – International Herald Tribune

From Bloomberg News, International Herald Tribune and Reuters via International Herald Tribune:

The price of oil rose to a new high Friday, breaching $90 a barrel for the first time, and the dollar hit a new low versus the euro before a meeting of officials from the Group of Seven industrialized nations .

But it was China that was expected to get the most attention from G-7 finance ministers and central bankers at their gathering in Washington. The emerging economic giant is facing broader pressure to let the yuan strengthen. After a four-year U.S. campaign to win more foreign-exchange flexibility from China, governments in Canada and Europe are now warning that their economies are being hurt by the yuan’s failure to rise against their currencies. [Full Text]

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