The Dollar's Disappearing Act Last week's currency intervention, where the U. S. and Japan jointly propped up the sagging yen, has sent shockwaves through financial circles.
On the surface, it appears as a routine exercise in monetary policy, but scratch beneath the skin to find a more nuanced tale of dollar dominance in decline.
The mechanics of the intervention reveal a telling strategy: instead of selling Treasury securities, which would have added to the already swollen pile of U. S.