Japan’s Finance Minister Satsuki Katayama said that Japan and the United States (US) reaffirmed their close cooperation on currency moves after a meeting with US Treasury Secretary Scott Bessent, Reuters reported on Tuesday.
Key quotes
Reaffirmed close cooperation on joint statement from last year.
Discussed wide global cooperation on crucial mineral supply chains.
Two countries in close contact, will continue to coordinate closely with Bessent.
Will not discuss BoJ’s particular monetary policy tools.
China may close gap in high-tech sectors within six months to a year, but not currently.
Trust us, Japan is aligned in managing critical mineral supply chain.
Discussions on currency coordination with US have intensified.
No talks with Bessent on Tokyo’s fiscal policy.
Unable to disclose if monetary policy talks occurred.
Comfortable with economic panel suggestion that BoJ consider firms’ financing circumstances.
We have not yet stepped into oil futures market.
Hard to forecast June outlook, declines to comment on possibility of BoJ rate hike in June.
Market reaction
As of writing, the USD/JPY pair is up 0.22% on the day at 157.50.
