US Treasury Joins Peso Tango: A $20B Samba You Won’t Believe
The Treasury’s moves, described as historic, form a sequence that could have been drafted by a novelist dreaming of a policy cliffhanger. Direct intervention in the FX market at moments of “acute illiquidity”-words chosen to flatter the ear while the ledgers tremble-was presented as prudence in motion, a veritable stage whisper to the global audience that all is well, provided one ignores the tickets sold for the show.





