Dollar falls to fresh 15-year low against yen

The US dollar has sunk to a fresh 15-year low against the yen after the G20 nations pledged to avoid a currency war.

Weekend talks in South Korea resulted in the G20 countries agreeing to avoid competitive devaluation, but the lack of concrete plans caused the dollar to slide. The G20 members agreed on "indicative guidelines" to deal with trade imbalances, but did not reveal a clear framework for how they would be implemented. Ongoing speculation the Federal Reserve will announce another round of QE next week also contributed to the increasing pressure on the dollar. Today the greenback fell 1% against the yen to 80.52, the weakest level since April 1995. US Treasury Secretary Timothy Geithner...