Tokyo, May 7 (Jiji Press)–Japanese authorities likely carried out a yen-buying currency market intervention during the Golden Week holiday period earlier this month, it was learned Thursday. Market sources estimated that the Japanese government and the Bank of Japan spent around 4 trillion yen to 5 trillion yen on the operation between Friday and Wednesday. On Wednesday, the final day of the five-day holiday in Japan, the yen suddenly surged from around 157.50 per dollar to near 155 per dollar in overseas trading. Japanese authorities are also believed to have conducted a similar intervention totaling 5 trillion to 6 trillion yen on April 30. END [Copyright The Jiji Press, Ltd.]
Japan Likely Conducted Forex Intervention during Golden Week
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