Forex News

Oct 24 (Reuters) - The Group of 20 major economies vowed to avoid competitive currency devaluations and shifted more power to emerging economies at the IMF, taking steps that analysts viewed as important for averting trade wars and promoting flexible exchange rates. Following is a summary of reserves reports issued by analysts about the G20 communique and outcomes following the gathering of finance ministers and central bankers.  --------------------------------------------------------- THOMAS STOLPER, CHIEF CURRENCY STRATEGIST, GOLDMAN SACHS, LONDON "The outcome of the G20 meeting clearly shows progress in the global rebalancing policy debate. In particular the FX relevant sections have become a lot more prominent and all the key issues have found some mention, including current account positions, protectionism, capital controls and exchange rate flexibility. "At the same time, this is not a Plaza-style statement that signals a broad agreement on the role currencies have to play in the global rebalancing. Just taking the first sentence of the FX bullet, the language is not tight enough to...

(Reuters) - Several U.S. lenders including JPMorgan Chase and Bank of America, and their legal advisers, have started talks with state attorneys general to resolve a probe of foreclosure practices, the Wall Street Journal said. Executives and lawyers of JPMorgan and Bank of America have separately met with the Florida Attorney General last week, the Journal said, citing people familiar with the matter. JPMorgan and Bank of America could not immediately be reached for comment by Reuters outside regular U.S. business hours. All 50 U.S. states have started a joint investigation of the mortgage industry, focusing on allegations that for years banks have not reviewed documents properly or have submitted false statements to evict delinquent borrowers. (Reporting by Sakthi Prasad in Bangalore; Editing by Dhara Ranasinghe)