The Treasury Is Backstopping The Yen (SPX)
· seekingalpha.com
The US Treasury sold euro reserves, not dollars, to buy yen, keeping the dollar out of the trade entirely. Find out why the dollar passed its cyclical low.
The last time I discussed the yen outright was when I wrote about the iShares MSCI Japan ETF ( EWJ ) in an article titled “ Buying an Oversold Japan. ” It w...