Finance Minister Satsuki Katayama says that she¡¯s held close discussions on foreign exchange issues with U.S. Treasury Secretary Scott Bessent and that authorities are prepared for ¡°bold¡± action if needed.
¡°We had a thorough discussion on currencies,¡± Katayama told reporters Wednesday in Washington after bilateral talks with her U.S. counterpart. ¡°We also agreed to maintain even closer communication than before.¡±
Katayama added that Japanese authorities are ready to take bold action if necessary ¡ª language that has referred in the past to currency market intervention to support the yen ¡ª based on a Japan-U.S. agreement on foreign exchange signed last September. That agreement entailed keeping intervention as a possible measure to counter excessive volatility in currency movements.
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