{"id":71241,"date":"2026-08-09T08:55:55","date_gmt":"2026-08-09T08:55:55","guid":{"rendered":"https:\/\/www.europesays.com\/japan\/71241\/"},"modified":"2026-08-09T08:55:55","modified_gmt":"2026-08-09T08:55:55","slug":"us-sale-of-euros-for-yen-intervention-blindsided-europe-report","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/japan\/71241\/","title":{"rendered":"US sale of euros for yen intervention blindsided Europe: report"},"content":{"rendered":"<p data-testid=\"article-description\">Some ECB officials viewed the US using euros, instead of US dollars, as an unprecedented breach of longstanding conventions<\/p>\n<p>Published Fri, Aug 7, 2026 \u00b7 11:50 AM<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">THE US blindsided the European Central Bank (ECB) last week with its <a class=\"text-verticals-btblue underline hover:text-blue-500\" data-testid=\"article-annotation-link-component\" href=\"https:\/\/www.businesstimes.com.sg\/international\/global\/japan-and-us-confirm-joint-yen-buying-intervention-signal-more-action\" target=\"_blank\" rel=\"nofollow noopener\">historic currency intervention to help Japan,<\/a> 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.\u00a0<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">ECB president Christine Lagarde and US Treasury Secretary Scott Bessent spoke about the transaction on Saturday (Aug 1) after the US\u2019 Jul 31 trade had been executed, the report said, citing one of the people.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Some senior ECB officials viewed the US using euros, instead of US dollars, as an unprecedented breach of longstanding conventions on cooperation between western monetary authorities, the people said.\u00a0<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The operation was aimed at helping Japan support the yen after the currency hit a 40-year low. Tokyo stepped in the foreign exchange on last week by selling US dollars to buy the yen.\u00a0<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">The US selling euros instead of selling US dollars to help Japan adds to the view that Washington does not want to see interventions lead to a sell-off of US Treasuries and higher US yields.\u00a0<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">Both Bessent and Japanese Finance Minister Satsuki Katayama warned on Aug 3 that they would have no hesitation to take action on the yen again if needed.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6 inline-block\" data-testid=\"article-paragraph-component\">Japan\u2019s Finance Ministry has signalled that the nation would utilise a US Federal Reserve facility going forward that provides central banks with US dollars using US Treasury holdings as collateral, without the need to sell them. BLOOMBERG<\/p>\n","protected":false},"excerpt":{"rendered":"Some ECB officials viewed the US using euros, instead of US dollars, as an unprecedented breach of longstanding&hellip;\n","protected":false},"author":2,"featured_media":71242,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[175],"tags":[217,215,2091,41591,3074,214,216,1101,1203],"class_list":["post-71241","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-business-of-japan","tag-currencies","tag-euro","tag-forex","tag-japans-business","tag-japanese-business","tag-us-dollar","tag-yen"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/71241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/comments?post=71241"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/71241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media\/71242"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media?parent=71241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/categories?post=71241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/tags?post=71241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}