Japan likely used around $34 billion intervening in the currency market to support the yen on Friday, building on the previous day's actions in coordination with the US, a Bloomberg analysis of central bank accounts indicates. The operation was estimated at around ¥5.33 trillion based on a comparison of Bank of Japan accounts released Monday and money brokers' forecasts, which would set a new monthly record for the total used in the latest round of intervention. Finance Minister Satsuki Katayama confirmed earlier in the day that Japan stepped into the market on Friday. The sustained yen-buying underscores authorities' resolve to push back against speculators after the yen slipped last month to its weakest level against the dollar in four decades. The US Treasury Department joined the effort last week, signaling the closest coordination on currency policy in 15 years, though the analysis does not reveal the size of the US intervention.
Bank of JapanBank of Japan's intervention is mentioned as the central bank's action, but no direct impact on its own operations or policy is detailed.
Japan intervened to support the yen, spending ~$34B, which strengthens JPY against USD.