Japanese Prime Minister Shigro Ishiba said on Friday that he and the President of the United States Donald Trump agreed to leave matters in the exchange of foreign currencies to the financing ministers.
Ishiba stated that, as in Trump’s first administration, discussions on the currency policy between the Japanese and American financial authorities will remain.
This announcement is followed by a video conference last month, where Japanese Finance Minister Katsonobo Kato and US Treasury Secretary Scott Bessin agreed to cooperate on currency -related issues. Analysts expected that Trump may criticize the weak yen, which enhances the dollar and reduces the competitiveness of export.
Japanese policy makers are still cautious about the potential impact of Trump’s statements on currency markets, for fear of fluctuations that may disrupt the economic recovery in Japan. The decrease in the yen was a major concern amid the efforts made to stabilize the country’s financial expectations.
