France's Call to Action: Currency Market Volatility in G7 Finance Talks

France is poised to spotlight currency market volatility at upcoming Group of Seven (G7) finance discussions, according to Finance Minister Roland Lescure. The move comes as Paris, holding the G7 presidency, pushes for action amid worsening global economic imbalances.

Last week, the U.S. dollar plunged to a more than 4-1/2-year low against the euro, sparking concerns among policymakers. Simultaneously, the Chinese renminbi has remained weak against other major currencies for years, enhancing its export competitiveness.

Lescure outlined France's G7 priorities, emphasizing the need for dialogue and corrective measures to prevent crises across economic, financial, and political realms. Topics on the agenda include tackling market imbalances fueled by U.S. over-consumption, European under-investment, China's export growth, and reliance on rare earths, along with reviving multinational tax discussions.