URGENT ¥¥¥ Bernanke rejects competitive devaluation worries

US Federal Reserve Chairman Ben Bernanke on Monday rejected worries that the world's leading economies were competitively cutting their currency values.

Bernanke told an audience at the London School of Economics that, although the exchange rates of some major economies have fallen, the policies are aimed at boosting growth and "confer net benefits on the world economy as a whole."