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Did G-20 meeting lead to a secret Shanghai Accord?

Slew of measures by policymakers to keep currency markets calm gives rise to suspicion of a backroom deal

CAPPING THE SURGE: Behind the suspected agreement is the belief that a further major US dollar rise against the euro and the yen would be bad for the global economy.


POLICYMAKERS across the world are acting in ways that suggest there may have been more to last month's Group of 20 meeting in Shanghai than mere platitudes about promoting global economic growth.

In the past few weeks, officials from China, the euro area, Japan, the

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