More on Japan’s top currency official denying Bessent supports a stronger yen

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 preferable

More, 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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Also of interest:

• Bank of Japan to “hit pause” on rate hikes at this week’s meeting – Trump tariffs cited

This article was written by Eamonn Sheridan at www.forexlive.com.