G7 confirms commitment to market determined FX rates
G7 communique also contains references to FX, noting that the G7 confirms commitment to market determined FX rates
Headlines
We affirm our existing exchange rate commitments to market determined FX rates
Will consult closely in regard to actions in FX markets
We reaffirm our commitments to keep markets open, fight all forms of protectionism
We reaffirm our fiscal, monetary policies will remain oriented to meeting our respective domestic objectives and not target FX rates
We underscore importance of countries refraining from competitive devaluations
Excess volatility, disorderly moves in FX rates can have adverse implications for economic, financial stability
Source:: FX Street
