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US Treasury Report Shows Japan Used Euros, Not Dollars, to Defend Yen
(2 hours ago) · 1 source · Summarized by CryptoBipto
A newly released US Treasury report reveals that Japan's recent intervention to support the yen was conducted using euros rather than US dollars. Some analysts have discussed the potential implications of this currency choice for global dollar liquidity conditions and, by extension, crypto markets.
WHY IT MATTERS
When countries want to prop up their own currency, they typically sell foreign currencies they hold in reserve.
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SOURCES
- cryptoslate.com
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