The top finance officials of Japan and the United States agreed again on Wednesday that markets should determine exchange rates and continued to make a point of not discussing a specific target for the yen-dollar rate.
It was the second meeting between Finance Minister Katsunobu Kato and U.S. Treasury Secretary Scott Bessent since the U.S. imposed a series of tariffs on its trading partners in March. The two were attending a meeting of Group of Seven finance ministers and central bank governors in Banff, Canada, on Wednesday.
There, they reaffirmed their shared belief that the market should determine exchange rates, and agreed that the current dollar-yen rate reflects economic fundamentals, according to a statement from the U.S. Treasury Department.
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