Treasury Secretary Scott Bessent says the US does not have specific currency targets in mind in trade talks with Japan.
The comments in media reports come amid speculation Washington was pressuring Tokyo to allow the yen to strengthen against the dollar to aid US exporters.
Reuters and Bloomberg reported Bessent’s comments in Washington on Wednesday. They added that the Treasury Secretary said the US expects Japan to honor the G7 agreement.
This is an apparent reference to a G7 commitment to allow markets to determine currency rates.
President Donald Trump in comments on the US trade deficit has suggested the yen was too weak against the dollar.
Finance Minister Kato Katsunobu is expected to hold talks with Bessent in Washington as early as Thursday.
The yen fell against the dollar on Thursday in Tokyo. It briefly weakened to the 143-yen level in morning trading.
