Japan Cracks Down on Yen with Three-Day Spring Intervention

Japan's central bank intervened in the currency market three times during the spring Golden Week holiday to prop up the yen, going beyond its recent playbook.

The intervention occurred on April 30, May 4, and May 6, according to daily intervention data from the Finance Ministry for the quarter through June released Friday.

Tokyo bought a record daily amount of yen on April 30, with no specific figure mentioned in the source. This move was part of an apparent effort to maximize the psychological impact on investors.