BOJ Taps Record $34 Billion in Currency Intervention

Japan's central bank, the Bank of Japan (BOJ), intervened in the currency market on Friday to support the yen. According to a Bloomberg analysis of BOJ accounts, the operation was estimated at around ¥5.33 trillion ($34 billion). This amount would set a new monthly record for the total used in intervention.

The BOJ's actions were coordinated with those of the US, building on previous day's efforts. The exact details of the operation are not publicly disclosed, but the analysis suggests that the Japanese authorities were trying to stabilize the yen's value against other major currencies.