Japan Sets Record with Massive Forex Intervention

Japanese authorities made a record-breaking move on April 30 to intervene in the foreign exchange market, selling dollars and buying yen worth 6.28 trillion yen ($40 billion). This was part of a larger effort to stem the yen's slide against the US dollar.

The intervention was followed by two more operations within a week, with Japan spending an additional 780.2 billion yen on May 4 and 4.68 trillion yen on May 6.

The April 30 intervention surpassed the previous record of 5.92 trillion yen set on April 29, 2024.