G7
a.k.a. Group of Seven
A forum of seven major advanced economies: the US, Japan, Germany, the UK, France, Italy and Canada.
In plain English
A forum of seven major advanced economies: the US, Japan, Germany, the UK, France, Italy and Canada.
The G7 leaders and finance ministers meet regularly to coordinate on the economy, trade and security. The EU also takes part.
G7 statements on currencies, such as warnings against 'disorderly' moves, can matter to forex markets, because they hint at possible joint action.
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