G7 warns against manipulating currencies, amid policy split

Sendai, Japan - Group of Seven finance ministers and central bank governors on Saturday issued a warning against devaluing currencies for competitive advantage, amid a policy split among members of the club of rich nations.

They "reaffirmed existing G7 exchange rate agreements" and "underscored the importance of all countries refraining from competitive devaluation", after talks hosted by Japan, which has come under pressure not to weaken the yen.