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Reuters reports a story carried by the Japanese public broadcaster NHK reported on Tuesday, citing that the Group of Seven (G7) leaders summit may end without a joint communique due to wide gaps between member nations on trade and climate issues.

Further Details:

It would be the first time a G7 summit ends without a communique since meetings began in 1975.

The summit will be held Aug. 24-26 in the southwestern France city of Biarritz. The group comprises the United States, France, Britain, Japan, Germany, Italy, Canada and the European Union.

Any update on the trade issue from the G7 Summit is likely to have a significant impact on the fx markets the following Monday.