WASHINGTON -- The flight to the safety of the U.S. dollar and the yen is likely to persist in the near term if statements from the world's major economies on tackling the financial crisis fail to appease jittery investors around the world.
Although they included strong commitments to jointly fight the worst crisis since the 1930s, communiques from both the Group of Seven leading industrialized nations and the Group of 20 developed and developing countries over the weekend may fail to revive confidence in financial markets.
Investors want to see immediate, specific plans for action, rather than grand promises.
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