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Japan Finance Minister, Yellen Confirm Existing Forex Agreements as Yen Plunges

  • U.S., Japan talked about recent sudden yen moves, Suzuki says
  • TBS reports that joint intervention also discussed at meeting
Shunichi Suzuki arrives at the International Monetary Fund (IMF) headquarters during the spring meetings of the IMF and World Bank Group in Washington, D.C., on April 20.

Shunichi Suzuki arrives at the International Monetary Fund (IMF) headquarters during the spring meetings of the IMF and World Bank Group in Washington, D.C., on April 20.

Photographer: Al Drago/Bloomberg
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Japan’s Finance Minister Shunichi Suzuki and U.S. Treasury Secretary Janet Yellen met Thursday and agreed to uphold existing foreign exchange-rate agreements, with Suzuki saying he discussed recent abrupt moves in the yen. 

Suzuki declined to comment on whether the two spoke about market intervention to prop up the yen. He said the talks focused more on the state of their economies than on concerns over currencies.