By Leika Kihara
WASHINGTON (Reuters) – Japanese Finance Minister Katsunobu Kato and U.S. Treasury Secretary Janet Yellen mentioned current alternate fee developments, amongst different points, at a bilateral assembly on Thursday, a senior ministry official mentioned Japanese Finance.
“The 2 sides mentioned alternate fee developments and confirmed the necessity for america and Japan to speak carefully,” Atsushi Mimura, Japan's vice finance minister for worldwide affairs, advised reporters.
The weak yen has turn into a supply of fear for Japanese policymakers because it hurts households and retailers by elevating the price of uncooked materials imports.
“We now have lately seen unilateral and sharp actions in alternate charges,” mentioned Mimura, who oversees Japan's financial coverage.
“It’s fascinating that alternate charges transfer in a approach that displays fundamentals. We will likely be more and more vigilant about forex actions, together with these pushed by hypothesis,” he mentioned in Washington on the sidelines G20 and IMF conferences.
The greenback climbed above 153 yen for the primary time in practically three months on Wednesday, as expectations of serious rate of interest cuts by the Federal Reserve drew renewed consideration to the extensive divergence in charges between United States and Japan.
The greenback stood at 151.83 yen on Thursday.
