Japan spent a record $96 billion intervening in the yen market: Ministry of Finance

The Ministry of Finance intervened in the market from late July through late August to steer the yen higher, deploying a monthly record ¥15.4 trillion ($96 billion).

Read in fullFrom the source, not the headline

sources corroborateOutlets reporting the same event

companies linkedAcross 0 themes, second pass

The story

Tokyo's Ministry of Finance announced that it intervened in the yen market from 30 July to 26 August to curb sharp fluctuations in the exchange rate. The intervention amounted to ¥15.4 trillion ($96 billion), the largest monthly total on record.

On 31 July, Tokyo and Washington carried out their first joint intervention in 28 years, seeking to curb the yen's decline amid the Japan-US interest rate differential and surging crude oil prices.

After reaching the previous month's high of ¥163.99 per dollar, the yen surged to ¥157.40 on 31 July and is now trading around ¥159.6. Fiscal spending plans, supply concerns and the situation in the Gulf are also said to have been factors.

At a glance

Transaction value¥15.4 trillion ($96 billion) deployed

PeriodIntervention from 30 July to 26 August

Joint interventionCarried out on 31 July, the first in 28 years

MarketThe yen traded around ¥159.6 per dollar

BackgroundThe Japan-US interest rate differential and higher crude oil prices were factors

Reference information. Every claim resolves to something the story actually named.

Where this came from

We read each source in full and checked they agree on the core claim.

1/ 1 agree

All of them report the same thing.

www.arabnews.jpNews

AgreesOpen

Read the original articleGo to the source page

Reference information generated from public sources. It does not solicit or advise on investments. Prices are 15-minute delayed.