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Japan, US Hold Talks on Currency Rates

Japan and the U.S. met Thursday for key talks on currency exchange rates. Japanese Finance Minister Katsunobu Kato and U.S. Treasury Secretary Scott Bessent met in Washington, marking their first face-to-face meeting.

The U.S. wants Japan to help strengthen the yen, which could lower the U.S. trade deficit and boost American exports. Japan said it prefers market-driven exchange rates and will continue discussions with the U.S. on that basis.