He added that this would push Japanese Government Bond yields lower, discouraging private Japanese investors from selling U.S. Treasuries to buy Japan’s sovereign debt. Hayes suggested that the Federal Reserve could expand its balance sheet by printing more money, referencing the “Money Printer Go Brrr” meme. Reports suggested that the Federal Reserve Bank of New York began contacting banks to ask about their USD/JPY position sizes. Interestingly, the U.S. Dollar Index and the Japanese Yen Currency Index diverged as these reports trickled in. Source: Trading ViewThe U.S. Dollar Index has dropped to a four-year low of 95.66 against a basket of other currencies.