Japan, U.S. Confirm Close Communication on Currency Moves

   Washington, April 17 (Jiji Press)--Japanese Finance Minister Shunichi Suzuki and U.S. Treasury Secretary Janet Yellen confirmed that their countries will "communicate closely" on the trend of the foreign exchange market, where the yen has been weakening rapidly, Suzuki said Wednesday.
   Speaking to reporters, Suzuki also said he explained to Yellen, during their meeting in Washington on Tuesday, that Japan will "respond appropriately to any excessive movements" of exchange rates.
   Furthermore, Suzuki conveyed his basic understanding that it is desirable for exchange rates to reflect economic fundamentals and move stably.
   Suzuki said Yellen listened to his explanations well.
   Earlier this week, the dollar climbed to 34-year highs above 154.50 yen. Market players have grown wary of possible dollar-selling, yen-buying market intervention by the Japanese government and the Bank of Japan.

(2024/04/18-09:23)