Amount of Yen Buying in Thin Market Shows Limit to Intervention

Amount of Yen Buying in Thin Market Shows Limit to Intervention

From bnnbloomberg.ca

Japan’s suspected currency intervention on Monday is raising questions about how far authorities will need to go to meaningfully prop up the yen. Despite thin liquidity due to a holiday in Japan, which typically exacerbates market moves, officials may have spent nearly as much as one of the interventions in 2022, when they bought a record amount of yen, according to a Bloomberg analysis of central bank accounts. “Despite spending ¥5 trillion in a market where there should have been little trading activity, the yen was pushed up by only a little over ¥5 and quickly recovered more than half its value,” said ... (full story)

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