US Treasury Secretary Yellen met Japan’s top central banker – Treasury

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© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen testifies during a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, U.S., June 8, 2022. REUTERS/Jonathan Ernst

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TOKYO (Reuters) – U.S. Treasury Secretary Janet Yellen met with Bank of Japan Governor Haruhiko Kuroda on Tuesday, the Treasury Department said, as both countries grapple with mounting economic challenges exacerbated by Russia’s war in Ukraine.

Yellen will meet later on Tuesday with Japanese Finance Minister Shunichi Suzuki, where the two will likely touch on currencies, a Japanese official said.

The meetings come as the yen is trading at 24-year lows to the dollar, weighing on Japan’s fragile economy by inflating the cost of importing fuel and raw material.