Japan Sets Record Yen Intervention as Pressure Persists

Japan's finance authorities conducted a record-breaking yen-buying intervention in April, selling $40 billion of the country's currency reserves to stem the yen's slide.

The largest operation on April 30 exceeded the previous single-day record by nearly $1.7 billion, with authorities intervening on three days from April 30 through May 6.

Despite the intervention, the yen resumed its downtrend, sliding to 40-year lows below 163 per dollar in July, prompting Japan to intervene again last week in coordination with the U.S.

The latest data provides a detailed breakdown of the record monthly intervention of 11.7 trillion yen conducted over April 28 through May 27, which helped lift the yen from a near two-year low but did not reverse its broader downtrend.