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MNI BRIEF: BOJ Data Suggests JPY3Tn+ Yen-Buy Intervention Weds

(MNI) LONDON
(MNI) Tokyo

Latest data points to scale of latest round of potential yen-buying intervention.

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The Bank of Japan’s latest fund data suggest Japanese authorities conducted yen-buying intervention totalling in excess of JPY3 trillion in late New York trade on Wednesday.

The data showed that the forecast of Treasury funds and others published Thursday was minus JPY4.36 trillion, considerably bigger than a range of minus JPY700 billion to minus JPY1 trillion initially predicted by money brokers, pointing to a bigger-than-expected drain of funds from financial markets possibly caused by yen-buying intervention.

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The Bank of Japan’s latest fund data suggest Japanese authorities conducted yen-buying intervention totalling in excess of JPY3 trillion in late New York trade on Wednesday.

The data showed that the forecast of Treasury funds and others published Thursday was minus JPY4.36 trillion, considerably bigger than a range of minus JPY700 billion to minus JPY1 trillion initially predicted by money brokers, pointing to a bigger-than-expected drain of funds from financial markets possibly caused by yen-buying intervention.

Keep reading...Show less