Japan Finance Minister Denies Guiding Yen Lower
Tokyo, March 4 (Jiji Press)--Japanese Finance Minister Katsunobu Kato on Tuesday rebutted U.S. President Donald Trump's claim that the Asian country is trying to weaken its currency.
"As we've said, Japan is not guiding the yen lower," Kato told a news conference.
Trump said at a news conference at the White House on Monday that Japan is nudging its currency lower, signaling that his administration may consider imposing additional tariffs on imports from Japan as a countermeasure. Trump also criticized China for allegedly letting its currency weaken.
Since autumn 2022, the Japanese government and the Bank of Japan have been trying to correct the yen's weakness against the dollar through currency market interventions. Kato said he hopes the U.S. side would understand Japan's argument from the currency intervention records.
Kato added that he and U.S. Treasury Secretary Scott Bessent confirmed basic views on the foreign exchange market in a videoconference in late January this year.
(2025/03/04-12:41)
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