Treasury Secretary Bessent and Japan's finance minister discuss strong yen in call
The U.S. Treasury chief said the two officials discussed the desirability of a strong yen and the importance of staying in close communication on currency markets.
What we know
- Treasury Secretary Scott Bessent said he held a call on Friday with Japanese Finance Minister Satsuki Katayama. [1]
- Bessent said the two discussed why a strong yen is desirable, one that reflects the strength of Japan's economic fundamentals. [1]
- Bessent said the two discussed the importance of staying in close communication on currency markets. [1]
- Not yet confirmed: Bessent's post does not say whether the call produced any agreement or policy steps, or whether specific exchange-rate levels were discussed. No statement from Katayama or Japan's Finance Ministry was included in the material reviewed.
Treasury Secretary Scott Bessent said he held a call on Friday with Japanese Finance Minister Satsuki Katayama, describing it as productive. Bessent made the statement in a post on X. [1]
Bessent said the conversation followed a discussion between President Trump and Japanese Prime Minister Sanae Takaichi earlier this week. Bessent said the call reflected the strength of the U.S.–Japan partnership. [1]
According to Bessent, the two officials talked about the desirability of a strong yen that reflects Japan's strong economic fundamentals. [1]
Bessent also said they discussed the importance of remaining in close communication on currency markets. [1]
The post did not describe any specific commitments, and it did not mention exchange-rate targets or any action by either government. [1]