Japan and China should cooperate with the US to stabilise the dollar given the two Asian country’s large currency reserves, Toyoo Gyohten an advisor to Japanese Finance Miinster Hirohisa Fujii said Friday.
Gyohten, during a speech, said “Some have voiced concern about the future of the dollar, but we cannot forget the amount of reserves Japan and China hold” adding “those reserves make Japan and China responsible for stability in the currency market.”
USD/JPY higher in reaction to comment, presently at 91.15.
