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Citigroup: Japan can protect the yen
A report from Citigroup states that Japan has alternatives to defend the yen's exchange rate without needing to sell its American bonds worth over $1.1 trillion. It can utilize the Federal Reserve's repurchase agreement facility, use its deposits with foreign central banks amounting to $160 billion, or employ euro-denominated assets to buy the local currency. These options reduce the risk of liquidation and enhance the government's ability to protect the yen's value. This comes amid waning yen gains and expectations of joint actions by Washington and Tokyo to curb currency volatility and stabilize markets.
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