Japan reveals MoF intervention spree
MARKET NEWS
TOKYO -- Japan’s Ministry of Finance bought over $32 billion between April and June in a bid to weaken the Japanese yen, official figures showed last week.
The Bank of Japan, which conducts forex intervention on behalf of the MoF, intervened eight times during the period, with all but one of the interventions involving the purchase of US dollars.
The interventions came in two waves. The first was in late May, when the authorities intervened three times, buying $17.2 billion in exchange for yen
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