US EditionJapan Intervenes to Buy Yen as Currency Surges 3%
Officials may have spent up to 5.48 trillion yen, or $35 billion, to support the currency as speculative selling intensified, central bank data showed.
- On Thursday, April 30, Japan's Finance Ministry and the Bank of Japan intervened in foreign exchange markets, purchasing yen after the currency weakened to roughly 160.7 per dollar, its lowest level since July 2024.
- Wide U.S.-Japan interest rate gaps and surging oil prices from the Middle East conflict pushed the yen to multi-year lows, prompting investors to amass their largest short-yen positions in nearly two years.
- Central bank data shows Japan spent an estimated 5.48 trillion yen, or $35 billion, on the intervention, sending the yen up as much as 3% in a single day—the largest move in over three years.
- Top currency diplomat Atsushi Mimura called the action a "final evacuation warning to markets," signaling officials' readiness for further intervention as Japanese Finance Minister Satsuki Katayama said the timing for "decisive action" was nearing.
- Analysts warn the intervention offers only temporary relief; long-term stability requires the Bank of Japan to reinforce policy with interest rate hikes as soon as June to counter persistent yen weakness.
43 Articles
43 Articles
Yen jumps on suspected intervention
Global shares steadied on Friday with investor focus staying on currency markets, after the yen briefly jumped against the dollar for a second straight day. The dollar lost as much as 1% against the yen in a matter of minutes on Friday before moderating, a day after Tokyo authorities were believed to have intervened to prop up the currency. It was last down 0.1% on the day at 156.74. Comments from Japan's top foreign exchange diplomat, Atsushi M…
With up to 30 billion euros, Japan could have supported the yen to stop the further fall in prices, which would be one of the biggest interventions in the country's history.
Japan may have spent up to $35 billion on foreign exchange market interventions to strengthen its currency
The Japanese authorities have intervened on the currency market to curb the rapid fall of the yen to the exchange rate with the dollar: this is the first such intervention in almost two years.
Japanese yen jumps against dollar hours after intervention
LONDON, May 1 : The yen suddenly jumped against the dollar on Friday, a day after Tokyo authorities were widely believed to have intervened to prop up the Japanese currency.The dollar fell by as much as 0.66 per cent to a session low of 155.60 from 157.12 earlier. The yen rose by as much as 3 pe
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