February 11, 2013 / 8:26 PM / in 5 years

G7 'committed' to market exchange rates-U.S. official

WASHINGTON, Feb 11 (Reuters) - The Group of Seven wealthy nations are “very committed” to floating exchange rates, the United States’ top official for international economic affairs said on Monday, amid heated rhetoric about a so-called currency war.

U.S. Treasury Undersecretary for International Affairs Lael Brainard also said the United States will focus on how to strengthen global demand to boost the fledgling economic recovery during the Group of 20 meetings in Moscow this weekend.ž

“It’s extraordinarily important for G-20 members to continue to support demand through avoiding a premature shift to restraint,” she told reporters at a briefing outlining U.S. priorities for the meetings.

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