Japan may have averted U.S. pressure for a stronger yen in bilateral finance talks on Thursday, but a closer look at officials' descriptions of the meeting suggests currencies and the Bank of Japan's interest rate policy may remain key factors in broader trade negotiations.
Speaking to reporters after his first face-to-face talks with U.S. Treasury Secretary Scott Bessent on Thursday, Finance Minister Katsunobu Kato said they did not discuss exchange-rate targets or a framework to manage yen rates.
There was no accusation made by the U.S. that Japan was intentionally weakening the yen, according to a Finance Ministry official who accompanied Kato.
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