Politics
US Uses Euros to Buy Yen to Avoid Weaker Dollar, Strategists Say
Key Points
US Uses Euros to Buy Yen to Avoid Weaker Dollar, Strategists Say The US Treasury may be using euros rather than dollars to fund its yen purchases to avoid weakening its own currency and casting doubt on its strong greenback policy, according to strategists. At least two major US banks were asked by the New York Federal Reserve to check the rate on the yen against the euro on Friday, two people familiar with the matter told Bloomberg. The New York Fed sold the shared currency to buy yen on...
US Uses Euros to Buy Yen to Avoid Weaker Dollar, Strategists Say
The US Treasury may be using euros rather than dollars to fund its yen purchases to avoid weakening its own currency and casting doubt on its strong greenback policy, according to strategists.
At least two major US banks were asked by the New York Federal Reserve to check the rate on the yen against the euro on Friday, two people familiar with the matter told Bloomberg. The New York Fed sold the shared currency to buy yen on behalf of the US Treasury, the Financial Times said last week, citing people with knowledge of the matter.