> Japan, US agree to continue consulting on FX market, cooperate 'as appropriate'

Japan, US agree to continue consulting on FX market, cooperate 'as appropriate'

A joint statement released after the meeting between Suzuki and Yellen

Tuesday, 12/07/2022 | 06:30 GMT-0

Agree to further strengthen bilateral ties
Agree to continue consulting on foreign exchange market
To cooperate 'as appropriate' on currency issues, in line with G7 and G20 commitments

Well, that's at least one key risk event out of the way now for the yen. It is all for the optics more than anything else as I don't view that Japanese officials are sensing much urgency to stem a further decline in the yen currency for now. If we do approach 145 or 150 rapidly in USD/JPY, then perhaps it might be a different story.