Interesting perspective. If true, it could reflect a strategic approach to managing FX interventions while avoiding additional pressure on the US dollar.
Binance News
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GEOPOLITICS | US May Use Euros to Fund Yen Buys, Strategists Say
The US Treasury may be using euros rather than dollars to fund yen purchases to avoid weakening the dollar and raising questions about its strong-greenback policy, according to strategists, Bloomberg reported.
The article did not say the Treasury had confirmed the practice.