Japan’s finance ministry official denies report Japan, U.S. discussed joint FX intervention

TOKYO (Reuters) – A senior Japanese finance ministry official on Saturday denied a media report that Japan and the United States discussed coordinated currency intervention to stem further yen falls at a bilateral finance leaders’ meeting.

Broadcaster TBS on Friday said Finance Minister Shunichi Suzuki and U.S. Treasury Secretary Janet Yellen discussed the idea of joint currency intervention to arrest yen falls during their meeting on Friday, held on the sidelines of the International Monetary Fund gatherings.

 

The report was not true, the official told Reuters on condition of anonymity because of the sensitivity of the matter.

The dollar traded at 128.55 yen, hovering near its weakest level since April 2002 at 129.43 yen per dollar hit on Wednesday.