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US Sale of Euros for Yen Intervention Blindsided Europe, FT Says

Bloomberg Markets Friday 07 August 2026, 01:56 UTC By Yoshiaki Nohara 1 min read
Key Points

US Sale of Euros for Yen Intervention Blindsided Europe, FT Says The US blindsided the European Central Bank last week with its historic currency intervention to help Japan, only informing its counterparts in Frankfurt after it sold euros to buy the yen, the Financial Times reported, citing several people familiar with the matter. ECB President Christine Lagarde and Treasury Secretary Scott Bessent spoke about the transaction on Saturday after the US’s July 31 trade had been executed, the...

US Sale of Euros for Yen Intervention Blindsided Europe, FT Says The US blindsided the European Central Bank last week with its historic currency intervention to help Japan, only informing its counterparts in Frankfurt after it sold euros to buy the yen, the Financial Times reported, citing several people familiar with the matter. ECB President Christine Lagarde and Treasury Secretary Scott Bessent spoke about the transaction on Saturday after the US’s July 31 trade had been executed, the report said, citing one of the people.
US Sale of (ORG) US (LOCATION) the European Central Bank (ORG) Japan (LOCATION) Frankfurt (LOCATION) the Financial Times (ORG) ECB (ORG) Christine Lagarde (PERSON) Treasury (ORG) Scott Bessent (PERSON)
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