UK PM May: Clear there was some debate & disagreements at G7

Eren Sengezer FXStreet

The UK PM Theresa May is delivering her prepared statement on the G7 summit at the Parliament, providing the key quotes found below.

Clear there was some debate & disagreements at G7.
G7 agreed to maintain Russian sanctions.
- We stand ready to take further restrictive measures if necessary.
American tariffs are unjustified. Must avoid tit-for-tat escalation of trade tariffs.
We need to continue to have trade negotiations in order to increase our exports.
As we leave the EU, it's important to have a good trade deal with the EU and to have other independent trade agreements.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.