japan promises closer talks with us amid currency volatility concerns
As Tokyo’s Finance Minister Katsunobu Kato confirmed Japan will enhance its connections with Washington regarding foreign exchange issues the government underlines that both nations share similar concerns about excessive currency volatility.
The ministers from both countries confirm their support for market-based exchange rates and acknowledge that sudden currency fluctuations cause economic instability according to Kato in his press conference. His words demonstrate intensifying worries regarding yen exchange rate movements vis-a-vis the US dollar.
“We have agreed with the United States that currency rates should be determined by markets and that excessive volatility or disorderly movement would negatively impact the economy,” Kato said.
Kato explained that Japan was prepared to start meaningful communication with US officials as foreign exchange markets intensified their pressure. Japanese economic diplomacy now operates under mutual agreements as the nation maintains active market monitoring.
Early Friday the yen reached its weakest level since October 2024 at 143.84 US dollars before rebounding which started new dialogues about potential foreign exchange interventions or bilateral diplomatic measures.
Japan’s Approach Going Forward:
Kato’s comments show Japan’s worry about sustained economic damage as the yen falls without limits. However, he did not specify any immediate intervention plan.
The recent announcement emerges during worldwide debates concerning both currency manipulation and trade equity imbalances while several Asian economic regions experience new market fluctuations.
Japan may choose transparency as a means to stabilize markets and strengthen its commercial relations with its chief trading partner the United States.
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