Strategists: US Uses Euro to Buy Yen
The United States is moving unconventionally to use the euro instead of the dollar to purchase Japanese yen, in an effort to avoid weakening the dollar and to maintain a "strong dollar" policy. This is being carried out through interventions in the foreign exchange market by selling euros and buying yen. This step is part of efforts to avoid the appearance that America is directly selling dollars, since the euro is the second-largest traded currency globally and is used strategically in the foreign exchange market. Japan has confirmed its cooperation with the United States for the first joint intervention to support the yen in 15 years, aiming to stem the decline of the Japanese currency.
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