Japan, South Korea ready to act against FX volatility, minis

TOKYO/SEOUL, March 14 (Reuters) - Japan and South Korea expressed concern on Saturday about the rapid declines in their currencies, saying they were ready to act against excessive foreign-exchange volatility.

Finance Ministers Satsuki Katayama of Japan and Koo Yun-cheol of South Korea expressed serious concern over the recent sharp depreciation ofthe Korean wonandthe Japanese yen, they said in a statement after their annual meeting in Tokyo.

The yen and won have slid as mounting tensions from the U.S.-Israeli war on Iran have driventhe dollarhigher on safe-haven demand and battered the currencies of countries heavily reliant on imported oil.

https://www.investing.com/news/economy-news/japan-south-korea-ready-to-act-against-fx-volatility-ministers-say-4561460?