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IPFS News Link • Japan

What's Going On: Japan FinMin Says FX Intervention "Coordinated" With US;

• by Tyler Durden

Something strange is going on: while we already know that the BOJ has spent north of $50 billion in reserves to stop the yen from crashing in response to the BOJ's own policy of recklessly and wantonly throwing infinite yen at the JGB market to preserve Yield Curve Control and avoid a crash in long-term Treasuries, one question many have been asking is whether Japan is spending all this money (the BOJ is effectively doing the Fed's job for it, injecting billions in USD into the market which is painfully short the greenback) without any coordination with the US. If so, it would be effectively one central bank doing what everyone in the market is advised to never do: fight the Fed.