Analysis-Political Heat Prods Japan, South Korea to Team up on Weak Currencies
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Bank of Korea Chief Watching Middle East Tensions for FX, Growth Outlook Reviews
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The success of Japan and South Korea at inserting language voicing concern over their currencies in a joint statement with the U.S. this week underscores the political heat they face from stiff inflation that is being aggravated by weak exchange rates. In the first trilateral finance dialogue since last year's historic three-way leaders summit at Camp David, the U.S., Japan and South Korea agreed on Wednesday to "consult closely" on currency markets, acknowledging "serious concerns" from Tokyo and Seoul over the slumping Japanese yen and South Korean won.