SpaceX OptionAccording to the Financial Times, the U.S. Treasury sold euros on Friday to buy yen.
The New York Fed executed this sale on behalf of the Treasury through Goldman Sachs and Morgan Stanley.
Notably, the Fed used euro reserves rather than dollars to fund this purchase.
This marks the first joint intervention by the United States and Japan to buy yen in nearly 30 years, following the yen's decline against the dollar to its weakest level since 1986.
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