US Sale of Euros for Yen Intervention Blindsided Europe, FT Says

The United States sold euros to purchase yen last week in a currency intervention to support Japan, informing the European Central Bank after the transaction occurred, the Financial Times reported. The ECB was not notified in advance of the action, according to the Financial Times account. The US Treasury and Federal Reserve did not immediately respond to requests for comment on the timing of the notification.

Next story