Goldman: Yen Intervention Reinforces Dollar Dominance
Yen intervention strengthens dollar's reserve status
GOLDMAN: YEN INTERVENTION REINFORCES DOLLAR DOMINANCE Goldman Sachs says the latest US-Japan intervention to support the yen strengthens, rather than weakens, the dollar's status as the world's leading reserve currency.
Washington's intervention in EUR/JPY and Japan's potential access to the Fed's FIMA dollar facility highlight the depth and liquidity of US financial markets.
Goldman argues no competing reserve asset currently matches the dollar's global infrastructure, liquidity and usefulness during periods of financial stress.