Japan Set to Reveal Up to ¥10 Trillion Yen Intervention as Currency Nears 160 Per Dollar
Updated
Updated · Bloomberg · May 28
Japan Set to Reveal Up to ¥10 Trillion Yen Intervention as Currency Nears 160 Per Dollar
3 articles · Updated · Bloomberg · May 28
Friday’s Finance Ministry data is expected to show how heavily Japan stepped into currency markets after the yen hovered near 160 per dollar.
Bloomberg’s reading of Bank of Japan accounts indicates authorities may have spent about ¥10 trillion, or $63 billion, supporting the yen from April 30 through May 6.
Japanese officials have not confirmed intervention publicly, but a person familiar with the matter said action took place on April 30.
Price swings through the Golden Week holiday period carried the usual signs of official yen-buying, underscoring Tokyo’s sensitivity to renewed currency weakness.
Can Japan's ¥10 trillion gamble save the yen while its interest rates remain near zero?
Is Japan's solo battle to defend the yen against global markets a fight it is destined to lose?