Usd/majors ... Germany's Merkel said G8 deficits n growth has not been controversial n US did not take an opposing view on Europe's deficit reduction policy n she saw signs of narrowing gap in G8 nations' position on deficit reduction. She added that there wud be no contradiction between spending cuts n sustainable growth. Despite dlr's fall to a marginal low of 89.21, the pair staged a recovery as DJI turned into +ve territory n is currently up by 30 points at 10186.