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Dollar seen dipping after G8 disappointment
OSAKA, Japan - The dollar is likely to slip on Monday after top financial officials from Group of Eight industrial powers did not offer more support for the battered U.S. currency, as some market players had expected.
The dollar jumped 2.4 percent against a basket of major currencies last week -- the biggest such gain in three years -- after top U.S. officials highlighted the inflation dangers of a weak currency and launched a volley of verbal support.
The surprising shift in Washington's remarks on the dollar, along with mounting worries about world inflation, had stirred speculation it could become more of focus at the G8 meeting.
Because the G8 meeting of finance ministers does not include central bankers, unlike G7 gatherings, currency policy is not usually a feature of the discussions.
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