U.S., Japan, and South Korea Commit to Cooperative Currency Stabilization

In a series of high-level meetings, finance leaders from the U.S., Japan, and South Korea agree to closely consult on foreign exchange issues amid concerns over currency depreciation.

• The U.S., Japan, and South Korea held their first trilateral finance dialogue, acknowledging serious concerns about the depreciation of the yen and won.
• Finance chiefs expressed a commitment to sustainable economic growth and stable financial markets through continued cooperation.
• Japanese and South Korean officials indicated readiness to intervene in currency markets if necessary to counter excessive movements.
• Discussions included potential coordinated intervention strategies to manage currency volatility.
• The meetings occurred alongside the International Monetary Fund and G20 finance leaders' gatherings in Washington.

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