TOKYO (Reuters) – Japan will proactively communicate with the United States on foreign exchange based on agreement that excessive currency volatility is negative for the economy, Finance Minister Katsunobu Kato said on Friday.
“We have agreed with the United States that currency rates should be determined by markets and that excessive volatility or disorderly movement would negatively impact the economy,” Kato said at a regular press conference.
“Based on this consensus, we would proactively communicate with the United States,” he said.
The dollar briefly sank to 143.84 yen early on Friday, the lowest since October last year.
(Reporting by Makiko Yamazaki; Editing by Jacqueline Wong)
