Japan likely spent 32 billion dollars to support yen
Bank of Japan data indicates authorities spent 5.01 trillion yen to bolster the currency. The estimate follows a large net outflow in money market projections.
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Japan likely spent 5.01 trillion yen ($32.06 billion) to support the yen, according to central bank data released on May 7. The figure exceeds brokerage forecasts that expected a fund increase of up to 500 billion yen. This scale suggests aggressive, repeated intervention to defend the yen against persistent currency weakness.
