FXstreet.com (Barcelona) - G-20 leaders have agreed to make a tighter regulation of banking system, hedge funds and Tax havens in order to beat the world financial crisis. In a first draft, G-20 has agreed to increase IMF funds in 500 billions and to create a new agency to regulate world economy. The greenback are rising against the Yen.
G-20 Will Create New Financial Stability Board, says UK Prime minister Gordon Brown and French Sarkozy announced that next G20 meeting will take place at next UN general Meeting, at the same time he said that G20 agreed to end bank secrecy and to take sanctions on tax heavens.
Barack Obama put on the table the necessity to make the way together and G20 agree to create a new agency to regulate global financial economy. Also, G20 has decided to provide IFM with more than USD 500 billions in order to help developing countries.
USD/JPY has risen 1.00% from the 98.55 opening price to be traded above 99.50. Along the day, the pair has reached 99.90, a fresh highest since November 4th.
EUR/USD is trading around 1.3430/50 after rising 0.50% along the day. GBP/USD has fallen to 1.4683 after rejecting from 1.4746. Along the day, Cable has risen 1.64% to the currently 1.4700.