The Yen Intervention That Wasn't: Washington's Euro Gambit The U. S. intervention aimed at bolstering the yen has sent shockwaves through financial markets, but a closer look reveals a more nuanced story.
Rather than selling dollars to prop up the Japanese currency, as done in previous interventions, Washington opted for a clever workaround: selling euros instead.
This technicality may seem arcane, but it's significant because it allows the U. S. to weaken the greenback against the euro without directly intervening in foreign exchange markets.