The U.S. and Japan’s Treasury Secretary issued a joint statement reiterating that they will not interfere in exchange rates for competitive purposes.

According to Bijie.com, on September 12, Japan and the U.S. Treasury Secretary issued a joint statement saying that the U.S. Treasury Department and the Japanese Ministry of Finance agreed to continue to conduct close consultations on macroeconomic and foreign exchange issues. They reiterated that exchange rates should be determined by the market and disorderly exchange rate fluctuations could have adverse effects on economic and financial stability. They also reiterated that under the IMF’s constitution, the commitment is not to manipulate exchange rates or international monetary systems. They also reaffirmed the G7 commitment that fiscal and monetary policy will continue to be guided by achieving national domestic goals rather than interfering in exchange rates for competitive purposes. The joint statement of the U.S. and Japan's Treasury Secretary also promises to publicly disclose any foreign exchange intervention operations at least once a month.