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Japanese financial authorities intervened in the forex market to support the yen, causing a sudden jump in the currency against the dollar. Traders cited the intervention to stabilize the yen, which had been at 34-year lows. The move aimed to underpin the currency, which had been languishing at levels not seen in over three decades.
🇯🇵BOJ Accounts Suggest Japan Intervened Monday to Support #Yen “BOJ reported that its current account will probably fall ¥7.56 to ($48.2 bb) due to fiscal factors including government bond issuance & tax payments….suggesting intervention around ¥5.5tn” https://t.co/zJ7MfaeJkm https://t.co/E3w5jXx3PS
"suggesting that intervention of about ¥5.5 trillion took place" > 🇯🇵BOJ Accounts Suggest Japan Intervened Monday to Support Yen Japan likely conducted its first currency intervention since 2022 to prop up the yen Monday, according to an analysis of central bank accounts.… https://t.co/k6opgO9v8n
With or without official word on intervention, weak yen may persist: The yen's sudden surge against the U.S. dollar, suspected by financial markets to be the result of fresh intervention by Japanese authorities, will likely keep… https://t.co/u3kPOaoueN #japannews #japantoday