Japan Sets New Record with $40 Billion Yen-Buying Intervention

Japanese authorities have been intervening in foreign exchange markets to stem the yen's slide. According to quarterly data from the Ministry of Finance (MOF), Japan conducted a record single-day yen-buying intervention in April, selling $40 billion worth of dollars.

The largest operation, which took place on April 30, amounted to 6.28 trillion yen ($39.64 billion) and surpassed the previous single-day record of 5.92 trillion yen spent on April 29, 2024.

The intervention helped lift the yen from a near two-year low of 160.725 per dollar to around 155 by May 6, but failed to reverse the currency's broader downtrend.