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Treasury's Yellen, Japan's Suzuki to discuss weak yen, more sanctions on Russia

Business 10:32 12 Jul, 2022

A comprehensive agenda will also include currencies, a Japanese official said, as the yen hit a fresh 24-year low beyond 137 yen to the dollar on Monday amid worry about the rising cost of living

Treasury's Yellen, Japan's Suzuki to discuss weak yen, more sanctions on Russia

U.S. Treasury Secretary Janet Yellen will discuss ways to further strengthen Western sanctions against Russia over its war in Ukraine when she meets with Japanese Finance Minister Shunichi Suzuki on Tuesday0, Qazet.az reports according to the Treasury Department.

Yellen's meeting will also focus on working with Japan and other trusted partners to build stronger and more resilient supply chains to help lower prices for consumers in the United States, where inflation is running at 40-year highs, it said.

The U.S. Treasury secretary paid her respects to slain former Prime Minister Shinzo Abe, Japan's longest serving modern leader at a private wake on Monday evening, lauding his work to increase Japan's prosperity and advance the status of women.

She canceled a public speech at the Port of Yokohama out of deference to Abe's death, but will still meet privately with Japanese business leaders to discuss how improved supply chain resiliency and greater use of "friend-shoring" can help ease inflationary pressures and address the bottlenecks.