U.S. Holds Fire Over Yen Exchange Rate Targets; Bessent Said to Understand Negative Impact on Markets

U.S. Holds Fire Over Yen Exchange Rate Targets; Bessent Said to Understand Negative Impact on Markets

WASHINGTON — The administration of U.S. President Donald Trump has shown discontent with the weak yen and the strong dollar. But at a Japan-U.S. finance ministerial meeting held on Thursday, the idea of setting a target for the yen-dollar exchange rate was put on hold at least for now, seemingly to avoid sparking fresh turmoil in the financial markets.