Japan and the United States agreed to maintain close communications on foreign exchange issues but did not discuss a target for the value of the yen, Finance Minister Katsunobu Kato said after meeting with U.S. Treasury Secretary Scott Bessent in Washington on Thursday.
The possibility of the two countries committing to a specific number in terms of the yen-dollar exchange rate has helped drive up the value of the Japanese currency in recent days and added to uncertainty for investors.
“There was absolutely no discussion from the United States regarding things like target levels for exchange rates or any kind of framework to manage them,” Kato told reporters at a news conference on Thursday.
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