U.S. to Continue Forex Monitoring of Japan

Politics Economy Lifestyle

Washington, Nov. 10 (Jiji Press)--The U.S. Treasury Department said Thursday that Japan with a large trade surplus with the United States is kept on its monitoring list for foreign exchange activities.

China, Germany, Malaysia, Singapore, South Korea and Taiwan are also on the list, according to a semiannual report by the department.

Meanwhile, the report mentioned the impact of U.S. interest rate hikes and the dollar's rapid strengthening on the global economy and showed some understanding of currency interventions to ease financial concerns.

"Intervention should be reserved only for very exceptional circumstances with appropriate prior consultations," the report said about Japan, reiterating the department's view.

"Japanese authorities intervened in the foreign exchange market in the direction to stem the pace of depreciation of the yen, citing excess volatility and disorderly exchange rate movements," the report said.

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