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G-7 countries announce joint currency intervention

March 17, 2011

WASHINGTON — Finance officials from the Group of Seven major industrialized countries have agreed on coordinated currency intervention to support Japan's economy following a devastating earthquake.

It will mark the first time the G-7 countries have jointly intervened in currency markets since the fall of 2000.

In a joint statement issued following emergency discussions, the G-7 officials said that the United States, Britain, Canada and the European Central Bank will join with Japan in a "concerted intervention" in currency markets Friday.

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