Why not? They could sell the fresh dollars for JPY and in return get rid of their costly hedge.

Any schemes that allow Nochu to pledge USTs for fresh dollars don’t solve the negative cash flow problem. The only thing that puts Nochu back into the black from a cash flow perspective is a significant cl…
(Any views expressed in the below are the personal views of the author and should not form the…
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Arthur Hayes
Hjalmar Peters
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Jun 22, 2024
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Why not? They could sell the fresh dollars for JPY and in return get rid of their costly hedge.
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Written by Hjalmar Peters789 Followers
·80 Following
Crypto trader, effective altruist, vegan, occasionally enjoys poker, physics and climbing
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