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Japan Conducted Record 6.28 Trillion Yen Currency Intervention on April 30

TOKYO - Japan's government and the Bank of Japan conducted a record 6.2787 trillion yen yen-buying, dollar-selling intervention on April 30, the Finance Ministry said on August 7.

The operation was the largest yen-buying intervention ever carried out in a single day.

Authorities also intervened on May 4 and May 6, spending a combined total of more than 5 trillion yen on additional yen-buying operations.

The moves came as the yen continued to weaken against the dollar, with authorities believed to have sought to curb the currency's decline during Japan's extended holiday period, when fewer market participants were active.

Source: テレ東BIZ

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Japan's government and the Bank of Japan conducted a record 6.2787 trillion yen yen-buying, dollar-selling intervention on April 30, the Finance Ministry said on August 7.

Tokyo stocks diverged on August 6, with the Nikkei 225 closing at 65,683.26, down 617.18 points, or 0.93%, as selling in artificial intelligence and semiconductor-related heavyweights outweighed broad gains across the wider market.

The Bank of Japan's latest economic outlook has strengthened expectations that another interest rate increase could come as early as September after the central bank kept its policy rate at around 1.0% at its July meeting following a June hike, while placing greater emphasis on the risk that inflation will rise above its 2% target.