BTCC
/
BTCC Square
/
Global Cryptocurrency
/
BRICS Gains Momentum as Fed Prepares Historic Dollar-Yen Intervention
BRICS Gains Momentum as Fed Prepares Historic Dollar-Yen Intervention
14
1
BTCCSquare news:
The Federal Reserve is coordinating with Japan for its first dollar-selling intervention this century, triggering volatility in currency markets. This MOVE aligns with BRICS nations' de-dollarization efforts, potentially accelerating adoption of alternative currencies like the BRICS Yuan.
Market observers note the New York Fed's rare rate checks with major banks—a precursor to intervention—suggest coordinated action rather than unilateral moves. 'When the Fed sells dollars, it will be done in tandem with Japan,' said Bipan Rai of BMO Capital Markets.
The development has intensified focus on crypto assets (BTC, ETH, XRP) as hedges against dollar volatility. Exchanges like Binance and Coinbase saw increased stablecoin flows amid the news.
By:
