Japan finance minister says groundwork laid to take appropriate FX action

By Thomson Reuters Apr 22, 2024 | 9:01 PM

TOKYO (Reuters) – Japan Finance Minister Shunichi Suzuki said on Tuesday last week’s trilateral meeting with his U.S. and South Korean counterparts likely laid the groundwork for Tokyo to take appropriate action in the foreign exchange market.

“I voiced strong concern on how a weak yen pushes up import costs. Our view was shared not just in a meeting with my South Korean counterpart, but at the trilateral meeting that included the United States,” Suzuki told parliament.

“I won’t deny that these developments have laid the groundwork for Japan to take appropriate action (in the currency market), though I won’t say what that action could be,” he said.

(Reporting by Leika Kihara; Editing by Tom Hogue)