The G20, the Group of 20 finance ministers and central bank governors, will be leaving out certain parts of earlier statements that referred to currency exchange rates and thereby avoid misinterpretations.

A G20 delegate who has seen a draft statement said it would make no direct mention of new debt-cutting targets, exchange rate targets, or any specific reference to Japan, according to Reuters .

On Wednesday, the G7 issued a statement that reiterated the group's commitment to allow the market to dertermine exchange rates. However, some misinterpreted the language to signal that the group supported Japan's devaluation of the yen to boost its economy.

Earlier on Friday, European Central Bank (ECB) President Mario Draghi had labelled these talks as "currency chatter" on growing speculation of a possible currency war and what the G20 would do about it.

JM

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