Selling foreign securities like crazy to support the yen! The intervention and rate hike by the Japanese authorities have minimal effect, and the market is on guard against a new round of "selling US bonds to save the yen" actions.

The Financial APP learned that Japan may have used its holdings of foreign securities (including U.S. Treasury bonds) to provide funding support for record-sized foreign exchange market interventions in the past month. This move may attract the attention of the United States.