US Sale of Euros for Yen Intervention Blindsided Europe, FT Says

The US blindsided the European Central Bank last week with its historic currency intervention to help Japan, only informing its counterparts in Frankfurt after it sold euros to buy the...

By Yoshiaki Nohara · Bloomberg Markets

The US blindsided the European Central Bank last week with its historic currency intervention to help Japan, only informing its counterparts in Frankfurt after it sold euros to buy the yen, the Financial Times reported, citing several people familiar with the matter.