According to CoinMeta, strategists suggest that the U.S. Treasury Department might use euros rather than dollars to fund its yen purchasing program in order to avoid depreciation of the domestic currency and to prevent its strong dollar policy from being questioned. Two people familiar with the matter revealed that the Federal Reserve Bank of New York asked at least two major U.S. banks last Friday to inquire about the exchange rate between the yen and the euro. David Forrest, a senior strategist at Credit Agricole Bank in Singapore, stated that the U.S. maintains a strong dollar policy, and they do not want to be seen as trying to gain a competitive advantage by weakening their own currency, as this would go against the G20's consensus on foreign exchange policies. Jason Wang, a currency strategist at Bank of New Zealand in Wellington, pointed out that the end result is essentially the same, as funds will still need to be reallocated back to euros at some point in the future, which may mean that the U.S. will ultimately sell dollars, albeit in a less transparent manner.