Japan exploring actively managed reserves, possibly pushing ~$1e12 in new directions. China just recently announced possibly doing the same for their ~$1e12 in reserves. Translated from Central Bankerese, it means "WTF!!! WE LOST ~$2e10 IN THE LAST 3 MONTHS!?!".

dollar to euro

Also, it probably means that they think the dollar might continue to depreciate, and that they want to manage that decline as best they can. That's all very well, but Central Bankers don't work as currency traders. So, unless they buy very good help, they're pushing ~$2e12 worth of baby seals into orca-infested waters; while the orcas can't possibly eat that much, it certainly won't be very pretty.