QCP Group, a cryptocurrency market maker based in Singapore, analyzed the Japan-US coordinated foreign exchange intervention in their market report 'QCP Market Colour' on the 3rd. The New York Federal Reserve, acting as an agent for the U.S. Treasury, implemented yen purchases last Friday, which were conducted simultaneously with the intervention by Japan's Ministry of Finance.
QCP noted that this intervention was the first coordinated foreign exchange intervention targeting the yen since 2011, and...