US and Japan agree to address currency & economic impact of Ukraine war

Yesterday, US Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki agreed to further strengthen bilateral ties and work together to address rising food and energy prices exacerbated by Russia's war in Ukraine. They said the war had increased exchange rate volatility, which could have adverse implications for economic and financial stability, and pledged to "cooperate as appropriate" on currency issues in line with their commitments as part of the Group of Seven (G7) and Group of 20 economies.

The two leaders also said they were united in their "strong condemnation of Russia's unprovoked, unjustifiable, and illegal war against Ukraine," adding they continued to increase Russia's cost of its war by implementing economic and financial sanctions.

Source: cnbc.com


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