G7 to confirm G20 currency stance, Bernanke unlikely to attend - G7 official

AYLESBURY Fri May 10, 2013 7:54am BST

Chairman of the Federal Reserve Bank Ben Bernanke attends the Treasury Department's Financial Stability Oversight Council in Washington April 25, 2013. REUTERS/Gary Cameron

Chairman of the Federal Reserve Bank Ben Bernanke attends the Treasury Department's Financial Stability Oversight Council in Washington April 25, 2013.

Credit: Reuters/Gary Cameron

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AYLESBURY (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke is unlikely to attend the Group of Seven finance leaders' meeting on the outskirts of London this weekend, a G7 official said.

The official, speaking after the dollar broke after 100 yen to its highest level in four and a half years, also said the G7 finance ministers and central bankers are likely to confirm the stance agreed upon by the larger Group of 20 nations that monetary policy would not be directed at currency rates but used for purely domestic purposes.

Bernanke is scheduled to speak from 2:30 p.m. British time on Friday at a meeting in Chicago. It is not unusual for the Fed chief to skip international meetings and be represented by a deputy.

(Reporting by Leika Kihara, Editing by William Mallard, John Stonestreet)

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