Historic market intervention: Reports say the US government sold euros and bought yen on Friday

Relevant reports indicate that on Friday, the US Department of the Treasury intervened in the yen foreign exchange market—marking the first time in nearly thirty years that Tokyo and Washington have jointly supported the Japanese currency by directly purchasing yen. The report, citing three informed sources, stated that the Federal Reserve Bank of New York, delegated by the US Treasury, carried out this extraordinary operation: selling euros to buy yen. Two of the sources disclosed to the media that the transaction was executed through Goldman Sachs and Morgan Stanley. Currently, both the New York Fed and Goldman Sachs have declined to comment on the matter.