G7 meeting reaffirms existing exchange rate commitments - UOB

Analysts at UOB explained that the communique of the G7 meeting in Italy reaffirms existing G7 exchange rate commitments as agreed by Finance Ministers. 

Key Quotes:

"The members are also committed to reducing excessive global imbalances to support growth. It reiterates commitment to keep markets open and “fight protectionism” while standing firm against unfair trade practices."

"All G7 countries except US reaffirm “strong commitment” to swift implementation of Paris climate agreement. It also cited readiness to strengthen measures against North Korea unless it abandons all nuclear programs."

"Members are concerned by situation in South and East China Sea and calls for demilitarization of the “disputed features”."