G7 to confirm stance on currency, Bernanke unlikely to attend meet

Reuters News
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Posted: May 10, 2013 2:45 AM
G7 to confirm stance on currency, Bernanke unlikely to attend meet

AYLESBURY, England (Reuters) - Federal Reserve Chairman Ben Bernanke is unlikely to attend the Group of Seven finance leaders' meeting on the outskirts of London this weekend, a G7 official said.

The official, speaking after the dollar broke after 100 yen to its highest level in four and a half years, also said the G7 finance ministers and central bankers are likely to confirm the stance agreed upon by the larger Group of 20 nations that monetary policy would not be directed at currency rates but used for purely domestic purposes.

Bernanke is scheduled to speak from 1330 GMT (9.30 a.m. EDT) on Friday at a meeting in Chicago. It is not unusual for the Fed chief to skip international meetings and be represented by a deputy.

(Reporting by Leika Kihara, Editing by William Mallard, John Stonestreet)