The G8 or G8 +1 if you include the European Union representative, is currently meeting to solve our global problems. Forex traders are interested in the meeting and in the press or buzz around the event but it is also helpful to understand a little about the group's history.
Over the past 6 years the USD has been dropping in value as the Fed uses monetary policy to attempt to ward off liquidity crises and recession. A weak USD or one that is devaluing too quickly is not good for most of the major economies. This topic of conversation has been a key theme at the G8 meetings and has resulted in temporary upticks or stability for the dollar over the for a few months following several of the last meetings.
The original G8 meeting was convened during the 1973 oil crisis so the timing this year is interesting to say the least. Although the press may spend a lot of time on the philanthropic activities being discussed, the true purpose of the meeting is an economic one. I suspect we will see a continuation of what we have seen over the past few years. That will affect the trend in the near term.
USD or one that is devaluing too quickly is not good for most of the major economies. This topic of conversation has been a key theme at the G8 meetings and has resulted in temporary upticks or stability for the dollar over the for a few months following several of the last meetings. 
