Japan Finance Minister Signals Close Coordination with Korean Authorities on Forex Market on July 7

According to Yonhap Infomax, on July 7, Japanese Finance Minister Atsushi Mimura announced that he is maintaining close communication with Korean foreign exchange authorities regarding market trends. Speaking at the opening ceremony of the Korea Investment Corporation's Tokyo office, Mimura noted that the two countries' economic and trade structures are similar, leading to occasionally synchronized financial market movements. He stated that the two nations' finance authorities are in particularly close contact regarding recent market developments, including the foreign exchange market, and will continue this cooperation. Both the Korean won and Japanese yen have recently weakened in tandem, with both countries' forex authorities focused on defending their currencies' values.
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