Japan, U.S. Agree to Communicate Closely for Forex Stability

Washington, April 21 (Jiji Press)–Japanese Minister of Finance Shunichi Suzuki said Thursday that he has agreed with U.S. Treasury Secretary Janet Yellen on closer bilateral communication for foreign exchange market stabilization.

Suzuki and Yellen met in Washington and discussed the yen’s rapid weakening against the dollar, Suzuki told a press conference.

“We’ve confirmed that the Japanese and U.S. currency authorities will communicate with each other closely in accordance with an agreement on currencies among the Group of Seven advanced nations,” Suzuki said.

Suzuki said he gave numbers to explain to Yellen how rapid the recent movements of foreign exchange rates have been.

The dollar rose to 20-year highs above 129 yen this week.

[Copyright The Jiji Press, Ltd.]