US nods to 'serious' Japan, Korea concerns over slumping currencies

From koreatimes.co.kr

The United States, Japan and Korea agreed to "consult closely" on foreign exchange markets in their first trilateral finance dialogue on Wednesday, nodding to concerns from Tokyo and Seoul over their currencies' recent sharp declines. The rare warning from the three countries' finance chiefs came as receding expectations of a near-term U.S. interest rate cut pushed the yen to 34-year lows, keeping markets on alert on the chance of an intervention by Japan to prop up the currency. "We will continue to cooperate to promote sustainable economic growth, financial stability, as well as orderly and ... (full story)