The euro rose against the dollar on Wednesday in volatile market is still swayed by the comments on the exchange rate as a statement on the eve of the G-7 failed to allay fears of "currency war."
Around 1400 GMT (1500 Paris), the euro bought 1.3479 dollars from 1.3454 dollars late Tuesday.
The euro rose slightly against the Japanese currency 126,12 ¥ 125,75 ¥ late Tuesday.
The dollar gained some ground against the Japanese currency 93,57 ¥ ¥ 93,47 late Tuesday.
"The exchange rate and possible currency war continue to be reviewed by officials (in the world, ed), after the liberation (G7), which cause some chaos in the market and failed to convince the problems could be contained," commented Anita Paluch, analyst at Gecko markets.
G-7 countries (Canada, USA, Germany, France, Britain, Italy and Japan) confirmed on Tuesday that left the free market to determine the exchange rate, while holding his "excessive volatility" was negative.
Monetary easing measures recently taken by Japan and did not understand the yen European countries fear manipulation of its currency from the new Japanese government to stimulate exports.
G7 communique was released a few days before the meeting Friday and Saturday in Moscow Finance ministers G2O, which brings together the rich and developing countries, where fears of a race for competitive devaluations should be at the center of debates.
Thus, traders should remain cautious on the markets ahead of the meeting, warned Ishaq Siddiqi, an analyst at ETX Capital.
Publication of the G7 communiqué, which seemed clear Japanese measures there is no connection resulted in starting today further weakening of the yen and the rise of the euro against the dollar.
Japanese Finance Minister Taro Aso also welcomed tone noting that "different countries have realized that monetary policy in Japan is not currency manipulation."
But the Japanese currency then began growth due to news reports citing unnamed sources that the policy of the Bank of Japan (BOJ) concern for many in the G7.
"It does not make sense" to be taken as seriously unnamed G7 estimated Hirotsugu Inoue, manager at UBS Tokyo.
For his part, Governor of the Bank of England (BOE) Mervyn King again openly criticized the intervention of this anonymous source who wanted "to say what he said," G-7 communique.
Investors will also be looking at the next few hours the Japanese central bank monetary policy starts today meeting two days.
Around 1400 GMT, the British pound fell against the euro at 86.62 pence per euro, as against the greenback at 1.5558 dollars, even falling 11:00 GMT lowest level since early August (1, 5534 dollars).
The Swiss franc fell against the euro at 1.2356 Swiss francs against the euro and was steady against the greenback at 0.9167 Swiss francs to the dollar.
Ounce gold ended in 1648 dollars at auction morning against $ 1647.50 Tuesday night.
Chinese currency finished 6.2325 yuan against one dollar for 6.2323 yuan yesterday.
