---Earlier today:The US can talk tough on the yen, but JP Morgan says its actual ammunition is a fraction of Japan's. As of June, the fund held about €13 billion in euro-denominated assets and $25.5 billion in other foreign assets. JP Morgan notes, however, that the picture changes if Washington turns to less conventional tools. Combined with swapping other foreign-currency assets the Treasury holds into dollars, JP Morgan calculates this could lift total Treasury firepower to around $187 billion, a substantial increase from the fund's current liquid foreign holdings. Even so, JP Morgan is not framing this as an open-ended commitment.