Euros... the story parallel to Yen purchases is the amount of Euros sold. End of June the US held roughly $40B in Euro. Selling an unspecified amount last week to make the $5-10B Yen purchases.
Propping up the Yen also stabilizes Crypto market. The downside is the EU takes a hit without having any say in the process.
Japan is becoming more energy dependent on US sources due to Russia/Ukraine and US/Iran conflicts. While they have committed $36B to infrastruture in US and spent $2B in acquisitions this year, weaker Yen means higher costs and less investment. This is as much about domestic production in US as making sure Japan can still pay.
Japan spends $63B USD on defense, up almost $8B in one year - $20B spent on foreign purchases mainly dominated by the US.
*We're not even getting into 240% Debt to GDP ratio, which is really what this is about. Not dumping Treasuries.
Euros... the story parallel to Yen purchases is the amount of Euros sold. End of June the US held roughly $40B in Euro. Selling an unspecified amount last week to make the $5-10B Yen purchases.
Propping up the Yen also stabilizes Crypto market. The downside is the EU takes a hit without having any say in the process.
Japan is becoming more energy dependent on US sources due to Russia/Ukraine and US/Iran conflicts. While they have committed $36B to infrastruture in US and spent $2B in acquisitions this year, weaker Yen means higher costs and less investment. This is as much about domestic production in US as making sure Japan can still pay.
Japan spends $63B USD on defense, up almost $8B in one year - $20B spent on foreign purchases mainly dominated by the US.
*We're not even getting into 240% Debt to GDP ratio, which is really what this is about. Not dumping Treasuries.