Japan's top currency official denied a media report claiming U.S. Treasury Secretary Scott Bessent supported a strong yen:
Mr Yen says Completely untrue about media report that Bessent said stronger yen preferableMore, in brief:
Atsushi Mimura said, "the U.S. side did not touch upon exchange-rate targets in the finance minister talks."
Finance Minister Katsunobu Kato and Bessent held their first face-to-face meeting in Washington last Thursday.
The Yomiuri newspaper reported Bessent's alleged comments without citing sources; Kato also denied the report on X, stressing no discussion of exchange-rate targets.
Kato declined to disclose whether the U.S. made any specific currency-related requests during the 50-minute meeting.
Market expectations remain that Tokyo could face U.S. pressure to strengthen the yen, given President Trump’s focus on the trade deficit.
Bessent described the talks as "very constructive," noting they discussed "matters pertaining to exchange rates."
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