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ECB Slams US for Backroom Yen Intervention Deals

Guavy AI Editorial Team
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JPY
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Bundesbank President Joachim Nagel has criticized the US for selling euros in an effort to support the Japanese yen without consulting European partners. Speaking at a meeting of the Group of 20 finance and central-bank chiefs in Asheville, North Carolina, Nagel said it would have been desirable to coordinate and consult with European partners regarding such interventions.

Nagel emphasized that this was not the customary practice in the past, implying that the US had blindsided Europe on this issue. He made these comments during a press conference on September 1, 2026.

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