JPMorgan Says US Treasury Has $38.5 Billion for Yen Support, Below Japan's $35 Billion-$60 Billion Interventions
Updated
Updated · Bloomberg · Aug 3
JPMorgan Says US Treasury Has $38.5 Billion for Yen Support, Below Japan's $35 Billion-$60 Billion Interventions
3 articles · Updated · Bloomberg · Aug 3
Summary
$38.5 billion in readily usable assets may leave the US Treasury with limited capacity for further coordinated yen support alongside Japan, JPMorgan said.
The bank said the Exchange Stabilization Fund held about $13 billion in euro-denominated assets and $25.5 billion in dollar assets as of June.
That pool looks modest against Japan's intervention operations from 2022 to 2026, which JPMorgan said ranged from roughly $35 billion to $60 billion.
JPMorgan added that US firepower could still expand substantially if officials chose more extraordinary measures beyond the Treasury's liquid resources.