Washington's move unsettles ECB after euro sales
A press report has revealed that Washington conducted an undisclosed operation involving the sudden sale of euros and the purchase of yen without prior coordination with the European Central Bank. This represents an unprecedented breach of the historic agreements among Western central banks. The operation was part of an effort to strengthen the yen, in collaboration with Tokyo, a move considered by many officials to be an unusual step that goes beyond normal cooperation and raises concerns about the stability of global financial markets. It is noteworthy that Japan spent approximately $87 billion over two days to support the yen, leading to a rise in its value against the dollar from its lowest levels since 1986. Experts anticipate that intervention may continue amidst fears of inflation and weak Japanese market movements.
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