Forex trading eyes turn to G20 summit

Forex trading floors around the world will be keen to discover what practical implications come out of the G20 talks in South Korea.

Leaders for the world's most powerful economies met in Seoul to discuss methods of tackling trade imbalances that are stifling the economic recovery.

US President Barack Obama emerged from the talks stating that imbalances "that helped to contribute to the crisis that we just went through" need to be addressed and that "emerging economies need to allow for currencies that are market-driven".

The latter comment was aimed at China, but British prime minister David Cameron indicated that the country he visited last week "is moving into a position of actually increasing domestic consumption, rebalancing its economy".

However, forex trading remains in limbo over the proposal to develop new guidelines that are intended to prevent 'currency wars' between economies. ADNFCR-8000244-ID-19947401-ADNFCR

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