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- US Treasury Sec. Yellen: Did not discuss currency intervention with Japanese officials
US Treasury Sec. Yellen: Did not discuss currency intervention with Japanese officials
US Treasury Secretary Janet Yellen said on Tuesday that she did not discuss currency intervention with Japanese officials.
Additional quotes
Countries in G7 should have market-determined exchange rates.
Currency intervention warranted only in 'rare and exceptional circumstances'.
Also read: Japan’s Suzuki: Told Yellen we are concerned about rapid yen weakening recently
Market reaction
The yen seems to have caught a strong bid on the above comments, dragging USD/JPY sharply lower.
At the time of writing, USD/JPY is trading at 136.92, down 0.36% on the day.
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