Japanese Government May Have Intervened in Forex Market for Two Consecutive Days, Totaling 5 Trillion Yen

It was learned on the 16th that on the 12th, amidst a sharp rise in the yen’s exchange rate, the Japanese government and the Bank of Japan possibly intervened in the forex market by buying yen and selling dollars, with an estimated intervention scale of 2 trillion yen. Market insiders provided this estimate based on Bank of Japan statistics. Some believe that interventions were carried out for two consecutive days starting on the 11th, with a total scale of 5 trillion yen. The government has not disclosed whether any intervention took place.

On the 12th, the forex market saw the yen appreciating against the dollar, with the exchange rate reaching the 157-157.5 yen per dollar range at one point, appreciating by more than 1 yen. The market speculates that, following the intervention on the 11th, another intervention might have been conducted.