MNI: G7 Finance Not Seen Changing FX Text - European Officials

G7 finance ministers are not expected to change their communique language on foreign exchange rates when they meet in Canada in coming days, European officials told MNI. 

"I don't expect any changes to the previous language," one European G7 source said, referring to the G7’s May 2017 commitments to market-determined exchange rates and to close consultations in regard to actions in foreign exchange markets.

Another source noted concerns among officials that any change to the FX text would risk reigniting the kind of market volatility which followed President Donald Trump's Liberation Day announcement on April 2.

A Eurosystem source agreed that a change to the FX language was unlikely, particularly as negotiations continue on trade imbalances.