Japan, South Korea share volatile currency concerns
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Japan and South Korea expressed concerns over the rapid depreciation of their currencies, the yen and won, during their annual meeting in Tokyo. They are prepared to act against excessive foreign-exchange volatility, particularly as the US dollar strengthens due to rising crude prices and geopolitical tensions. The yen has reached a 20-month low, nearing 160 yen to 1 US dollar, while the won has breached 1,500 won to 1 US dollar for the first time since 2009. Both countries are closely monitoring the situation and are ready to respond to protect their economies.
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Source: Taipei Times The copyright of this article belongs to the original author/organization.
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