Japan's Finance Minister Kato says forex rates should be determined by the market and excessive forex moves negatively affect the economy

Says:

• In meeting with Bessent tomorrow, hopes to hold talks based on past understanding on the need for both countries to coordinate closely.


• Raised China’s excess capacity as an issue that needs to be resolved in the G7 meeting.


• Told G7 meeting that countries need to work together to urge China to take steps to address domestic imbalances and help make the global economic system more balanced.


• Told G20 that geopolitical problems, US tariffs, and countermeasures by some nations have heightened uncertainty, destabilised markets including FX, and negatively impacted the economy.


• Told G20 each country must monitor developments to maintain economic and market stability and take necessary steps while cooperating nimbly.

24 Apr 2025 - 04:08- ForexEconomic Commentary- Source: Newswires