May 22, 2025 - 08:40
BANFF, Alberta - U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato reached a consensus on Wednesday regarding the current state of the dollar-yen exchange rate, asserting that it accurately reflects economic fundamentals. This agreement was announced by the U.S. Treasury Department following their discussions during the Group of Seven finance ministers meeting held in Banff, Canada.
Both leaders emphasized the importance of allowing exchange rates to be determined by market forces, reiterating their belief that the current dollar-yen rate aligns with fundamental economic indicators. This dialogue comes at a time of heightened scrutiny over currency fluctuations and their implications for international trade and investment.
The meeting underscores the ongoing collaboration between the U.S. and Japan in addressing global financial stability and promoting sound economic policies. As the world continues to navigate complex economic challenges, the reaffirmation of market-driven exchange rates highlights a commitment to maintaining transparency and stability in the foreign exchange markets.
