That fits roughly with the same amount spent during their intervention efforts on 1 May last month as seen here. So, it is not to say that they tried to pull off a half-assed attempt yesterday. As a total in May, Japan spent a record ¥9.8 trillion – which surpassed the total used in 2022 to defend the yen currency.
USD/JPY is little changed on the news, having traded sideways after the wild swings in Asia. The pair is now holding at 159.10 on the day.
This article was written by Justin Low at www.forexlive.com.
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