Japanese yen currency intervention
The developments in this story so far, most recent first.
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· Development
Yen Surge Sparks Speculation of Japanese Intervention
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· date approximate · Background
Japanese authorities intervened in the market to support the yen.
Japanese authorities intervened in the currency market in April and May 2024 to support the yen, spending more than $70 billion (¥11.73 trillion) in the process, as reported later that year.
The intervention was aimed at stemming the yen's sharp depreciation against the US dollar. The moves were first signaled by Finance Minister Satsuki Katayama, who stated the government was ready to take appropriate action against excessive currency moves.