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NY Fed Sells $87B Euros, Boosts Yen; Euro Slides Below 180

8/9/2026

45 6 Full Breakdown

Summary

Story summary

On July 31 2026, the Federal Reserve Bank of New York (New York Fed) executed an $87 billion (€75.4 billion) trade, selling euros and buying yen to support the yen.
Finance Minister Satsuki Katayama said Tokyo is ready for action.
President Donald Trump called the aid a favor to an ally.
Euro fell from 187.4 yen on July 30 to below 180 yen on August 3.
Analysts said the sale helped Japan without signaling a weaker dollar.

History

Historical Context

Signed on 22 September 1985, the Plaza Accord—by the United States, Japan, West Germany, France and United Kingdom—ordered dollar sales that lifted the yen about 10 % and prompted Fed and BoJ to sell $50 billion in Q1. After the 1987 Louvre Accord ended dollar falls, moves grew rare. The New York Fed’s $87 billion yen-support trade, cited by Finance Minister Satsuki Katayama and Donald Trump, mirrors that 1985 intervention.

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Story summary

On July 31 2026, the Federal Reserve Bank of New York (New York Fed) executed an $87 billion (€75.4 billion) trade, selling euros and buying yen to support the yen.
Finance Minister Satsuki Katayama said Tokyo is ready for action.
President Donald Trump called the aid a favor to an ally.
Euro fell from 187.4 yen on July 30 to below 180 yen on August 3.
Analysts said the sale helped Japan without signaling a weaker dollar.

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