Japan, US agree to have FX matters in the hands of finance chiefs, Ishiba says
Add BT as a preferred source
JAPANESE Prime Minister Shigeru Ishiba said he agreed with US President Donald Trump that the two countries will leave foreign exchange-rate matters in the hands of their finance ministers.
“As was the case during the first Trump administration, we decided to continue close discussions between the Japanese and US finance leaders, who are the experts,” Ishiba told a news conference after his meeting with Trump on Friday (Feb 7), on currency rate matters.
In a video conference call last month, Japanese Finance Minister Katsunobu Kato and US Treasury Secretary Scott Bessent agreed to cooperate on issues including currency rates.
Some analysts have said prior to the summit that Trump could express displeasure over the weak yen as a factor that boosts the dollar and makes US exports less competitive abroad.
Japanese policymakers have been sensitive to the risk of Trump making explicit comments about the yen and causing market volatility that could hurt its fragile economic recovery. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
OCBC rolls out AI-native banking, to hire 600 relationship managers in wealth push
Three Holland Village shophouses sold for S$70 million to Tat Lee Bank’s Goh family unit
The billion-dollar question Singapore Airlines shareholders should ask during its AGM
