The G20 meeting was not able to come to any firm change in the global rebalancing that Treasury Secretary Geithner was hoping for. A decision to refrain from “competitive devaluations” was instead put forth and this gave the market the green light to buy the risk pairs and sell the USDJPY as well. The market is now focused back on the expectation of the US and UK QE additions with the US being the first to engage on November 3rd (I guess this is not considered competitive devaluation).
With the dollar lower, I take a look at the key currency pairs
I was reading about your topic, “The FX Trader’s Link » G20 over, dollar weak again” at one of the various blogs I keep in my reader. You are essentially in complete agreement with them. It just isn’t what I believed, but I’m realizing now that I am quite possibly wrong… intriguing..