IMF says currency war fears 'overblown'

WASHINGTON: The International Monetary Fund said Thursday that worries over currency wars are "overblown" and that it did not see major currency values as being particularly out of line.

"On the so-called talk of currency wars which we feel is overblown," IMF spokesman Gerry Rice told reporters, "our multilateral assessment doesn't indicate very significant deviation from fair value for the relevant currencies."