Free Trial

MNI BRIEF: Japan Conducts Forex Interventions Apr 29, May 1

(MNI) Tokyo
(MNI) TOKYO

Japanese authorities conducted yen buying interventions on April 29 and May 1, purchasing JPY5.9 trillion and JPY3.9 trillion respectively when the yen fell to JPY160 for the lowest level in 34 years, data released by the Ministry of Finance showed on Wednesday.

The dollar traded at around JPY145.20 in early Wednesday after rising to a JPY141 level on Monday following concerns the U.S. Federal Reserve could lower rates to support the economy.

71 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Japanese authorities conducted yen buying interventions on April 29 and May 1, purchasing JPY5.9 trillion and JPY3.9 trillion respectively when the yen fell to JPY160 for the lowest level in 34 years, data released by the Ministry of Finance showed on Wednesday.

The dollar traded at around JPY145.20 in early Wednesday after rising to a JPY141 level on Monday following concerns the U.S. Federal Reserve could lower rates to support the economy.