G7 to cooperate on market moves after British vote to leave EU

Group of Seven finance leaders vowed on Friday to continue to consult closely on market moves and financial stability and cooperate as appropriate, after Britain voted to exit the European Union.

G7 finance chiefs said in a statement they were monitoring market developments while recognising that excess volatility and disorderly moves in exchange rates can harm economic and financial stability.

"We respect the intention expressed today by the people of the United Kingdom to exit from the European Union," G7 finance leaders said after a conference call held hours after the British referendum.

They also said they affirmed that the British economy and financial sector remained resilient, and were confident British authorities were well positioned to address the consequences of the referendum.

G7 central banks have taken steps to ensure adequate liquidity and to support market functioning, and they stand ready to use the liquidity instruments to this end, they added.