The latest round of intervention in Japan may have reached as much as 5.01 trillion yen.
Golden Ten Data, May 7 – Data released by the Bank of Japan on Thursday shows that authorities may have utilized as much as 5.01 trillion yen (32.06 billion USD) in their latest round of actions aimed at supporting the pressured yen. This suggests that the country undertook multiple interventions in the market. The Bank of Japan's forecast for next-day money market conditions showed a net outflow of funds amounting to 4.51 trillion yen, while brokers had previously forecast a range from zero to a net increase of 500 billion yen. Operations to buy yen involve the Bank of Japan withdrawing yen from the market, so any abnormally large funding gap can be used as a basis to estimate the scale of intervention.
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