Japan rejects media claims of discussing yen exchange rate appreciation with US — Reuters

Japan's Vice Finance Minister for International Affairs Atsushi Mimura refuted a Yomiuri newspaper report alleging that US Treasury Secretary Scott Bessent advocated for dollar weakness and a stronger yen in recent bilateral discussions.

Japanese Finance Minister Katsunobu Kato and Scott Bessent conducted their inaugural in-person discussions on Thursday, according to Reuters. Following the meeting, the Japanese newspaper reported on the alleged stance of the US official regarding the exchange rate. Though, the outlet did not cite any sources. Both Kato and Mimura have since denied the report.

Regarding the talks, US Treasury Secretary Bessent described them as “very constructive” in remarks on Saturday. He also stated his intention to continue discussions, encompassing exchange rate considerations, according to Reuters.