Japan Spends Record $96.5 Billion Supporting Yen Amid Exporter Concerns

Japan's finance ministry revealed that Tokyo spent a record-breaking 15.4 trillion yen ($96.5 billion) on foreign exchange market interventions over the past month to prop up its currency.

The size of this intervention demonstrates Japan's determination to prevent the yen from falling to four-decade lows, which would have disastrous consequences for exporters and import costs, particularly energy imports from the Middle East.

Japans' interest rates are kept low compared to other major markets like the US, making it an attractive destination for investors who continue to fund global trades with cheap yen.