Recently, Japan has been taking a surprising action to protect the yen from the dollar's rise: selling US Treasuries for two consecutive months!

📊 The latest data shows that Japan sold $22 billion of US Treasuries in May, reducing its holdings to $1.1283 trillion. This is another round of reduction after the first reduction of $37.5 billion in April.

📈 Background: The move comes as the Japanese government is doing its best to curb the depreciation of the yen against the US dollar. In the past month, Japan has invested $36.6 billion to fight speculators who short the yen.

🔍 Bloomberg analysis: The July intervention continued the strategy of April and May, showing the government's determination to fight speculators. Recent actions have begun to bear fruit, and market expectations for the future trend of the yen have begun to change.

🔜 Looking ahead: Japan is not expected to release more details on its currency intervention until November. And foreign exchange reserve data released next week may reveal whether the government directly paid for the purchase of yen with Treasury sales. #美联储何时降息？ #超级央行周 #iris #bnx #RAd $KMD $COS $CVC