Japan, US finance chiefs agree to closely communicate on FX

Japanese Finance Minister Shunichi Suzuki speaks during a meeting with U.S. Treasury Secretary Janet Yellen and Korean Finance Minister Choi Sang-mok on the sidelines of the IMF/G20 meetings, at the U.S. Treasury in Washington, U.S., April 17, 2024. REUTERS/Kevin Lamarque

"I explained Japan's view, which is that it's desirable for exchange rates to move stably, reflecting fundamentals, and that Japan will respond to excessive currency moves," Suzuki told reporters on what was discussed during the bilateral talks. He declined to comment, when asked whether Japan could intervene in the currency market to prop up the yen.

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