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Japan, US Stress Cooperation to Support Yen Stability
(MENAFN) Japan and the United States agree that maintaining close coordination is important to preventing excessive fluctuations in the yen and supporting stability across international financial markets, Japanese Finance Minister Satsuki Katayama says.
Katayama holds talks with US Treasury Secretary Scott Bessent on the sidelines of a two-day meeting of Group of 20 finance ministers and central bank governors in Asheville, North Carolina.
“We confirmed that an orderly yen exchange rate is essential for the stability of global financial markets, including those of the United States, and that the continued coordinated efforts of Japan and the United States contribute to achieving this shared objective,” she told reporters after the meeting.
The two officials also underscore the importance of the recent joint action taken by Japan and the US in the foreign exchange market, according to Katayama.
Their discussions take place roughly a month after the two countries carry out their first coordinated intervention to support the yen since the Asian financial crisis of 1998.
The joint operation takes place on July 31 after the Japanese currency falls sharply, reaching a 40-year low of nearly 164 yen per dollar.
Katayama holds talks with US Treasury Secretary Scott Bessent on the sidelines of a two-day meeting of Group of 20 finance ministers and central bank governors in Asheville, North Carolina.
“We confirmed that an orderly yen exchange rate is essential for the stability of global financial markets, including those of the United States, and that the continued coordinated efforts of Japan and the United States contribute to achieving this shared objective,” she told reporters after the meeting.
The two officials also underscore the importance of the recent joint action taken by Japan and the US in the foreign exchange market, according to Katayama.
Their discussions take place roughly a month after the two countries carry out their first coordinated intervention to support the yen since the Asian financial crisis of 1998.
The joint operation takes place on July 31 after the Japanese currency falls sharply, reaching a 40-year low of nearly 164 yen per dollar.
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