Why did US sell euros over dollars to aid yen

The article discusses the United States and Japan's move to support the Japanese yen through currency market interventions. The U.S. Treasury Department purchased yen in exchange for euros rather than dollars, an unusual action that reflects a desire to minimize the impact on the U.S. dollar and avoid sending negative signals to the dollar. The report also noted that Japan made similar interventions, with the yen rising by 4% over a week, marking its largest gain in two years. It is expected that this coordination will help support the yen and reduce pressures on the Japanese currency, while the market watches for potential expansion of cooperation among major central banks—especially if the European Central Bank participates in selling euros to buy yen.

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