As soaring energy costs stirred protests from Malaysia to Spain, the world'OSAKA, Japan (Reuters) - The U.S. dollar took centre stage as Group of Eight finance ministers gathered in Japan on Friday to wrestle with surging inflation and the impact of record oil prices on a slowing global economys most powerful governments talked up the link between dollar weakness and a doubling of oil prices in the past 12 months.
The G8, mostly importers of crude, wields little influence over oil markets, driven by demand from India and China and concerns about supply. But it can try to arrest a slide in the U.S. currency that has prompted investors to buy oil futures and other commodities to hedge their dollar risks.
Dollar grabs spotlight at G8 inflation talks
By Tetsushi Kajimoto
As soaring energy costs stirred protests from Malaysia to Spain, the world'OSAKA, Japan (Reuters) - The U.S. dollar took centre stage as Group of Eight finance ministers gathered in Japan on Friday to wrestle with surging inflation and the impact of record oil prices on a slowing global economys most powerful governments talked up the link between dollar weakness and a doubling of oil prices in the past 12 months.
The G8, mostly importers of crude, wields little influence over oil markets, driven by demand from India and China and concerns about supply. But it can try to arrest a slide in the U.S. currency that has prompted investors to buy oil futures and other commodities to hedge their dollar risks.
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