Japan Spends Approximately ¥4 Trillion on Suspected Yen Intervention in May
Axios (Tổng hợp từ english.kyodonews.net)
Japan is estimated to have spent approximately ¥4 trillion ($25.6 billion) in May to support the yen via a suspected foreign-exchange intervention, its second such operation in two months. Market analysts based the estimate on BOJ account data, as authorities typically refrain from immediate confirmation. The action aims to counter the yen's sustained depreciation against the dollar.
Data from the Bank of Japan (BOJ) released on June 1 indicates that Japan likely spent roughly ¥4 trillion ($25.6 billion) during May to intervene in the foreign-exchange market and prop up the yen. This marks the second suspected intervention, following a yen-buying operation on April 30.
Market estimates are based on comparisons of BOJ account balances before and after the intervention window, revealing the scale of expenditure. Japan typically refrains from immediately confirming currency interventions, but analysts often rely on flow data to detect them.
The move comes against a backdrop of the yen's sharp depreciation against the U.S. dollar, prompting the Japanese government to act in order to slow the decline and stabilize the exchange rate. Previous interventions, including the April yen purchase, pursued the same objective.
Japanese financial authorities have so far neither confirmed nor denied the intervention. The Ministry of Finance ordinarily releases official figures on foreign-exchange operations at the end of each quarter.
