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TOKYO -- Japan has confirmed that it stepped into the foreign exchange market to support its currency against the dollar about a month ago, with the Ministry of Finance on Friday reporting it bought 9.788 trillion yen ($62.2 billion) during the five-week period between April 26-May 29.
Data from Japan's Ministry of Finance on Friday confirmed the country's first currency intervention since 2022, after the yen plunged to a 34-year-low in April.
TOKYO -- Foreign investors have reduced their buying of Japanese stocks, seeing the government's apparent effort to shore up the yen as an additional source of market uncertainty.
TOKYO -- When the Bank of Japan ended the world's only negative interest policy in March, it emphasized that financial conditions would be kept easy and interest rates would slowly increase.
At the root of the problem is the perceived strength of the US dollar, and the impact this has on capital outflows from Japan and other Asian economies into the greenback as yield differentials continue to widen and currency values adjust accordingly. Government bond yield differentials in favour of the United States have hovered near 400 basis points lately, while the yen has continued to weaken.
TOKYO -- Japan's suspected yen-buying interventions last week may have yielded an estimated 2 trillion yen ($13 billion) in capital gains, potentially boosting a surplus on its foreign reserve account and fueling debate on how such funds should be used.
Japan is not seeking a strong yen but rather aiming for a relatively stable currency, according to veteran investor David Roche.
The Japanese yen weakened to levels not seen in 34 years against the U.S. dollar on Monday, only to rebound and likely clock its best week in more than a year. Here is what happened.