\u3000\u3000Economic Information Agency reported on the 8th that the minutes of the U.S. Federal Reserve's September meeting released on Wednesday (7th) revealed that the operation in late July, in which the United States and Japan jointly bought yen to curb its depreciation, was funded by the U.S. Treasury and did not use the Fed's own funds. At that time, the New York Fed conducted the transactions as a \"fiscal agent\" for the U.S. Treasury, rather than operating on behalf of the System Open Market Account of the Fed.
\u3000\u3000Data showed that the U.S. intervention occurred on July 31, when the New York Fed, on behalf of the Treasury, bought yen using euros, marking the first joint intervention in currency markets by the U.S. and Japan since 1998. At the time, the dollar-yen exchange rate approached the 164 level, hitting a nearly 40-year low.
\u3000\u3000U.S. Treasury Secretary Bessent said in September that the amount invested by the U.S. side was \"nominally\" small, with market estimates below 1 billion U.S. dollars; the latest analysis suggests the actual scale may have been around 500 million U.S. dollars. (kk)
\u3000\u3000Data showed that the U.S. intervention occurred on July 31, when the New York Fed, on behalf of the Treasury, bought yen using euros, marking the first joint intervention in currency markets by the U.S. and Japan since 1998. At the time, the dollar-yen exchange rate approached the 164 level, hitting a nearly 40-year low.
\u3000\u3000U.S. Treasury Secretary Bessent said in September that the amount invested by the U.S. side was \"nominally\" small, with market estimates below 1 billion U.S. dollars; the latest analysis suggests the actual scale may have been around 500 million U.S. dollars. (kk)
