TOKYO–Japanese Finance Minister Shunichi Suzuki said he agreed at a meeting Tuesday with U.S. Treasury Secretary Janet Yellen that the U.S. and Japan should cooperate appropriately in dealing with rapid currency movements.
Mr. Suzuki spoke to reporters after meeting Ms. Yellen.
He said he told Ms. Yellen that Japan is concerned about the rapid weakening of the yen this year and believes that disorderly movements in the foreign-exchange market are undesirable.
Russia’s invasion of Ukraine has exacerbated volatility in the forex market and has potential bad effects on the global economy and financial markets, Mr. Suzuki said. He said he confirmed with Ms. Yellen that the U.S. and Japan would “cooperate appropriately on currency issues.”
He said Ms. Yellen listened carefully to his remarks but he didn’t characterize further her comments on currencies.
Write to Peter Landers at [email protected]
