Japanese Finance Minister Fukushiro Nukaga held talks Friday with U.S. Treasury Secretary Henry Paulson on foreign exchange before the opening of the Group of Eight (G8) finance ministers meeting in the central Japanese city of Osaka.
After the talks, Nukaga told reporters that he would not comment on foreign exchange.
As there are many risky factors, the two countries need to coordinate their actions closely, he said.
And it was unclear whether currency matters will be discussed at the G8 session, he added.
Acknowledging that global economy faces growing inflationary pressure stemming from soaring crude oil and food prices, the Japanese finance minister said that Japan and the United States are working closely to tackle the challenges.
Nukaga will take the chair at the G-8 finance ministers meeting, which will bring together ministers from Japan, the United States, Russia, Germany, France, Britain, Italy and Canada.
The G8 session is scheduled to start later Friday with an "outreach" dinner, during which the G-8 ministers will discuss such issues as food and other commodity prices with representatives from Australia, Thailand, Brazil, China, South Korea and South Africa.