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MNI BRIEF: Japan Conducts Yen-Buying Intervention - Press

(MNI) Tokyo
MNI (Tokyo)

Japan’s government and the Bank of Japan conducted a yen-buying intervention to prop up the currency after it fell to a fresh 32-year low of JPY151.94, the Nikkei reported on Saturday.

The yen strengthened to JPY146.226 after the intervention and traded at around JPY147.66 on Saturday morning (JST). The intervention is yet to be confirmed by either the government or the BOJ.

The yen-buying intervention was the first since Sept. 22, although there has been speculation that Japan’s government and BOJ conducted a "stealth intervention" on Oct. 13. (SeeMNI BRIEF: Yen Breaks JPY150; Triggers Talk Of Intervention)

The BOJ will hold its monetary policy meeting on Oct 27-28 and is expected to lift its CPI forecast and trim its growth outlook. (See MNI POLICY: BOJ To Lift FY22 CPI Forecast; TRIM Growth View).

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

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