Japan's Finance Minister confirms effective currency market intervention with $62.2B spent to support yen.
Japan's Finance Minister, Shunichi Suzuki, confirmed that the government's currency market intervention in late April and early May was effective to some extent. The intervention was carried out to counter excessive FX moves driven by speculation, and according to Suzuki, it had a certain impact. The Japanese government spent a record amount, ¥9.79 trillion ($62.2 billion), to support the yen in the market.
June 04, 2024
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