New US Treasury chief to miss G20

Jacob Lew, nominated to replace Timothy Geithner as US Treasury Secretary, will miss this week's G20 ministerial meetings in Moscow, the Treasury said Monday.

Lew, previously White House chief of staff, is still awaiting confirmation by the US Senate for the Treasury post.

The Treasury's undersecretary for international affairs, Lael Brainard, will lead the US team to the talks Friday and Saturday in Moscow, where global financial regulation and the fear of "currency wars" -- competitive devaluations -- will lead the agenda.