The Nikkei Currency Index series plots changes in the effective exchange rate against a base value of 100 for the value in 2005.

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Much talk will also focus on making the IMF a more effective overseer of exchange rate regimes.

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The most effective channel through which quantitative easing would work is the exchange rate.

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"Much more needs to be done to promote effective global rebalancing, which requires stronger demand in surplus countries and continued progress toward greater exchange rate flexibility, " Mr Lew said.

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