Dollar takes a beating across the board on a combination of negative remarks from the IMF and silence from the G20. The IMF said the dollar remained overvalued (based on imbalances of which the budget deficit is the major factor) despite moving closer to equilibrium, At the same time, the G20 statement refrained from pressure on China to revalue its currency as was usually done in G7 meetings. GBUSD breaks the key $1.67 resistance, hitting 4-mth high, eyeing $1.6830. Lack of US data today, could prolong risk appetite further and lift GBPUSD towards $1.6880s. USDJPY remains weak due to USD weakness (not JPY strength), eyeing 89.60, while EURJPY regains 134.70s, expected to face renewed resistance at 135.50.
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