Strategists cited by Jin10 said the U.S. Treasury may use euros rather than dollars to finance a yen-buying plan, a structure that could help avoid any perception that Washington is weakening its own currency. David Forrester, senior strategist at Crédit Agricole in Singapore, said the U.S. maintains a strong-dollar policy and does not want to be seen as seeking a competitive edge by pushing down its domestic currency. Jason Wong, a currency strategist at Bank of New Zealand in Wellington, said the approach may be less transparent, but the end result would be the same. The remarks focus on how funding choice could shape market interpretation of U.S. currency policy.
ChainCatcher, citing Jin10, reported that strategists said the U.S. Treasury may use euros instead of dollars to fund a yen-buying plan, a move aimed at avoiding domestic currency depreciation and questions over its strong-dollar policy.
David Forrester, senior strategist at Crédit Agricole in Singapore, said the United States maintains a strong-dollar policy and does not want to be seen as trying to gain a competitive advantage by weakening its own currency. Jason Wong, a currency strategist at Bank of New Zealand in Wellington, said the method may be less transparent, but the final effect would be the same.
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