In the 2020 crisis the largest of dollar liquidity provided by Fed was taken by Bank of Japan, an indicator

In the 2020 crisis the largest of dollar liquidity provided by Fed was taken by Bank of Japan, an indicator of its Japan’s importance in global dollar system. What then are implications of dramatic 30% devaluation of yen v. $ since 2021. See Chartbook #113
adamtooze.substack.com/p/chartbook-11… https://t.co/acoH0KGDtZ

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