Japan, US finance chiefs agree to closely communicate on FX

Japan and the United States agreed to closely communicate on currency markets, Japanese Finance Minister Shunichi Suzuki said on Wednesday after a meeting with U.S. Treasury Secretary Janet Yellen. "I explained Japan's view, which is that it's desirable for exchange rates to move stably, reflecting fundamentals, and that Japan will respond to excessive currency moves," Suzuki told reporters on what was discussed during the bilateral talks. "I think our view was well understood," said Suzuki, who is visiting Washington to attend this week's International Monetary Fund (IMF) and G20 finance leaders' gatherings. He declined to comment, when asked whether Japan could intervene in the currency market to prop up the yen.