- The U.S. and Japan jointly intervened to support the yen last week but avoided selling U.S. Treasuries—using euro sales and the Fed’s FIMA repo facility instead—highlighting strains in the Treasury market and dollar liquidity.
- Some economists say that signals a weakening of the dollar’s reserve role and could boost interest in alternatives like gold or other currencies.
- Others, including Goldman Sachs, disagree and argue the Fed tools used actually underscore the dollar’s continued centrality, so the debate over dollar dominance continues.
The news, distilled into what matters.
Get the full experience in the app — topics, comments, and audio summaries.