10/19 cnbc- G20

Bank Stocks Not Attractive: Rogers

The problems banks have with mortgages will take a long time to be solved and bank stocks are not attractive despite the recent drop in price

 

 

Will G20 change its currency tune?

(*2010 G20 summit =meeting of finance leaders from the Group of

20 wealthy and emerging nations in South Korea)

 

There are rising tensions over Chinese and U.S. currency valuations
are expected to take center stage.

 

 

Geithner, normally reluctant to publicly discuss currency and market movements, has not uttered the so-called "strong dollar mantra" — a refrain he helped create at Treasury in the 1990s — since February.

On Friday, the dollar index hit a 10-month low against a basket of major currencies, while the greenback has been plumbing fresh 15-year lows against Japan's yen.

 

 

If the G20 wants to soothe currency tensions, finance leaders may have to do more than simply repeat a well-practiced refrain that too much foreign exchange rate volatility is unwelcome.

 

 

South Korean President Lee Myung-bak, who will chair a G20 leaders summit in Seoul next month,

said his biggest concern was that "conflicts of interest between countries could develop into trade protectionism."

 

 

Instead, a sluggish recovery in advanced economies and prospects for another round of Federal Reserve money printing have driven down the dollar. China's tightly managed currency has followed, while the euro, yen, real and other currencies have risen. Investor money has poured into faster-growing emerging markets, and some are at risk of overheating.

 

sluggish 느릿느릿한