Japan economy minister Motegi on talks tih US on trade - already agreed on FX
Japanese Economy Minister is in Washington for trade talks with the US
Remarks reported (nothing to nudge forex rates too far though):
- Had first meeting with Lighthizer
- Talked about the order of discussions
- Had frank and good discussions with Lighthizer on trade
- On FX, respective finance ministers already have an agreement
Re Motegi's comments on FX … he would very much like the yen to avoid the spotlight in these discussions. There is a risk that you-know-who will tweet out comment seeking to weaken the USD against the yen for competitive purposes. Like he did with China and the yuan.