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G7 finance ministers to hold teleconference, issue statement

Japan’s Finance Minister Taro Aso crossed wires, via Reuters, during Tuesday’s Asian session. The diplomat mentioned a teleconference among the finance ministers from the Group of Seven advanced economies, known as the G7. It was also talked that the joint communiqué will be issued after today’s talks whereas the G20 finance ministers and central bankers will hold a meeting on Wednesday.

Key quotes

Aso, speaking to reporters after a cabinet meeting, declined to comment when asked about a Reuters report that the G7 would oppose the launch of Facebook’s Libra stablecoin until it is properly regulated.

Aso said he and Bank of Japan Governor Haruhiko Kuroda would jointly brief media after the G7 teleconference.

Market implications

USD/JPY pays little heed to the news while regaining the bids around 105.40. The reason could be the latest swing the risk barometers ahead of the European open. While portraying the mood, stock futures from the US and Europe trim the early-day losses.

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