FX currency Wars - Colombia taking no chances - G20 a collective 'jerkoff' (update 5)

South America will continue the devaluation/intervention of their currencies. The G20 is a complete joke, as it is always, in fact it will be great when the day when all mayhem takes place at one of their meetings, people walk, talks collapse and so on. Till that day.

The FX war is till on, as Japan's intervention on the set the war off on 15 September 2010. According to G20 communique Japan has green light to continue to devalue their YEN. China will say 'fuck you' (albeit politely) to everyone else and the US will print.


From Bloomberg/BW

re: Colombia

"Oct. 23 (Bloomberg) -- Colombia will take measures “next week” to ease the peso’s rally after “carefully” studying a “complicated” situation, President Juan Manuel Santos said in comments posted on the presidential website.

Government and central bank officials are seeking to slow the rally of the peso against the U.S. dollar after the country’s business associations said in a letter this month that the advance threatens jobs and “jeopardizes the Colombian economy’s positive outlook.”

The currency has jumped 11.8 percent this year, the second- best performance after the Iceland krona among 25 emerging- market currencies tracked by Bloomberg.

Investors are betting officials will announce further measures after the Oct. 29 monetary policy meeting, analysts including Julian Ramirez from brokerage Proyectar Valores SA and Daniel Lozano from brokerage Serfinco SA, have said."