Japan Ministry of Finance Data Confirms No Currency Intervention Despite Recent Yen Volatility
Official data indicates Japan spent no funds on currency intervention recently. This clarifies official actions during a period of high market volatility.
Insights:
Data released by the Ministry of Finance in Japan 
JPon Friday confirmed that the government did not spend any funds on currency market intervention between December 29 and January 28. This finding settles recent speculation regarding official involvement in the foreign exchange market during a period of significant yen volatility. The lack of financial action suggests that while authorities were vocal, they relied on non-financial measures and statements rather than deploying public reserves to influence the exchange rate.
JPon Friday confirmed that the government did not spend any funds on currency market intervention between December 29 and January 28. This finding settles recent speculation regarding official involvement in the foreign exchange market during a period of significant yen volatility. The lack of financial action suggests that while authorities were vocal, they relied on non-financial measures and statements rather than deploying public reserves to influence the exchange rate.The period in question was marked by sharp movements in the value of the Japanese currency. On January 23 the yen jumped 1.7% after a decision by the Bank of Japan . The yen had been trading near an 18-month low against the dollar prior to the January 23 move, highlighting the pressure on Japanese officials to address currency weakness. Following the initial surge, the yen rallied for two more days after January 23 on reports of rate checks from finance officials in Tokyo and Washington 
US, a move often described as a precursor to direct market entry.
US, a move often described as a precursor to direct market entry.
