The finance ministers of the United States and Japan have issued a joint statement emphasizing their commitment to refrain from intervening in exchange rates for competitive purposes. The statement, released on September 12, underscores the agreement between the U.S. Treasury and the Japanese Ministry of Finance to maintain close consultations on macroeconomic and foreign exchange issues. Both parties reiterated that exchange rates should be determined by the market and warned that disorderly fluctuations could negatively impact economic and financial stability. The ministers also reaffirmed their adherence to the International Monetary Fund's charter, pledging not to manipulate foreign exchange rates or the international monetary system. Additionally, they committed to the G7's principle that fiscal and monetary policies should focus on domestic objectives rather than competitive devaluation. The statement included a promise to publicly disclose any foreign exchange interventions at least once a month.