Morningstar

Japan Spent Record 11.735 Trillion Yen On Currency Intervention

Provided by Dow Jones

By Megumi Fujikawa 




  TOKYO--Japan spent more than $73 billion on currency intervention over the past month, the Ministry of Finance said, confirming its first direct market intervention since 2024. 



  The ministry's data showed Friday that Japan spent a record 11.7349 trillion yen, or about $73.69 billion, on currency intervention between April 28 and May 27. 



  The government's action when the yen reached around 160 against the dollar has strengthened the view among traders that officials want to defend that level. 



  Continued safe-haven demand for the dollar amid Middle East tensions and expectations that the Federal Reserve's next step will be a rate hike, not a cut, have pushed the yen back down near the 160 level against the greenback. 





  Write to Megumi Fujikawa at megumi.fujikawa@wsj.com 





  (END) Dow Jones Newswires



  May 29, 2026 06:32 ET (10:32 GMT)


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