News Summary

• Japanese authorities spent 11.7 trillion yen ($73.5 billion) intervening in foreign exchange markets over the past month to support the yen.
• Ministry of Finance data confirmed traders' suspicions that officials entered the market at the turn of the month.
• Tokyo acted as the yen dropped past 160 per dollar, the same level that triggered record dollar-selling intervention in 2024.
• On April 30 this year, the yen surged from as weak as 160.725 - a nearly two-year low - to as strong as 155.50.