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 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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