G20: need for “further dialogue and actions” on trade - UOB

Analysts at UOB Group explained that in the G20 financial minister's communique, the group recognizes need for “further dialogue and actions” on trade and to stand by their G20 leaders’ Hamburg declaration on trade.

Key Quotes:

"The group reiterated that they will refrain from competitive devaluations, not target foreign exchange for competitive reasons.

It urged for flexible exchange rates, as it can serve as a shock absorber where feasible. In a first for the G20, the group recognized the risks that cryptocurrencies posed and that crypto assets should continue to be monitored by national standard-setting bodies."