Japan's Economy Minister Minoru Kiuchi has pledged to step up two-way communication with financial markets to maintain trust in the country's fiscal sustainability, as Tokyo and Washington prepare to formally confirm their first joint currency intervention since 2011.
The coordinated action to halt the yen's slide to forty-year lows saw Japan sell as much as fifty-nine billion dollars on Thursday, while the US Treasury bought yen worth between five and ten billion dollars on Friday, according to Reuters and the Financial Times.
The Bank of Japan held interest rates at one per cent on Friday but warned that inflation could accelerate clearly above its two per cent target.
Jagruti Dave reports from Washington.
IN: “Japan would normally...”
OUT: “...the US markets.”
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