Published by Mark Smith-HalvorsenFinance ministers meeting in Washington over the weekend failed to agree terms to resolve a potential currency war, although the International Monetary Fund (IMF) will investigate the threat of currency imbalances.Policy chiefs met in Washington for the annual meeting of the fund amid concerns that discrepancies in currency strategy are already resulting in protectionism.While the US' widely publicised criticism of China's currency strategy was aired once more during the talks, the Federal Reserve found itself in line for scorn, as the central bank was accused of flooding foreign markets with capital by keeping interest rates at record lows.Speaking to Bloomberg, Steve Englander, head of Group of 10 currency strategy at Citigroup, said policy chiefs appeared to be trying to downplay the threat of a currency war."There did not seem any commitment to change behaviour, however. There is little to suggest that the dollar’s direction is anything but down," he added, in comments which found probity this morning (October 11th) as the greenback slumped to fresh 15-year lows.For more information on international payments, visit our Smart FX site.