BOJ Data Suggests No Intervention as Yen Surges

Japan's central bank data suggests that authorities may not have intervened in the currency market on Monday, despite a sudden surge in the yen.

The Bank of Japan's projection for money market conditions indicates a shortfall of 3.38 trillion yen (US$21.43 billion), exceeding brokerage forecasts of between 2.32 trillion and 2.6 trillion.

Tuesday's data did not show large outflows in the central bank's current account balances, which are often seen as correlating with intervention size.

The yen jumped to its strongest level in about three months on Monday, prompting traders to anticipate a third straight day of intervention.