South Korea and Japan shared 'serious concerns' on the recent weakness of their currencies against the dollar and agreed to take 'appropriate actions' to counter extreme volatility, the finance ministry in Seoul said Wednesday.
South Korea and Japan shared"serious concerns" on the recent weakness of their currencies against the dollar and agreed to take"appropriate actions" to counter extreme volatility, the finance ministry in Seoul said Wednesday.
The yen has fallen to a 34-year low against the dollar as a string of above-forecast US inflation and jobs data sees investors re-evaluate their outlook for when the Federal Reserve will cut interest rates, while the Bank of Japan keeps monetary policy loose.South Korean Finance Minister Choi Sang-mok and his Japanese counterpart Shunichi Suzuki discussed the matter in Washington this week on the sidelines of a G20 meeting, according to the finance ministry.
The greenback has also risen against a range of other currencies this year, including the Indian rupee, Australian dollar and Thai baht.
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