US Treasury confirm that Sec. Bessent met with Japan finance minister Kato

  • Secretary Bessent met with finance minister Katsunobu Kato of Japan on the margins of the G7 finance ministers
  • Bessent and Kato discussed global security, bilateral trade and currency issues
  • Bessent and Kato reaffirmed shared belief that exchange rates should be market determined
  • Bessent and Kato reaffirmed that, at present, the dollar-yen exchange rate reflects fundamentals
  • As at their previous meeting, they did not discuss foreign exchange levels

USD/JPY getting a bid higher on this:

usdyen bessent kato 22 May 2025 2
Source: Forex Live