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Japan Intervenes in FX Market in Early May, Spending Up to $320 Billion

GateNews
Forex

According to Reuters, Japan conducted additional foreign exchange market interventions during early May holidays, spending approximately 5 trillion yen (about $320 billion) between May 1 and May 6. An informed source confirmed the interventions occurred during the holiday period, though specific timing, frequency, and scale were not disclosed. Based on Bank of Japan monetary market data, traders suspected further interventions occurred as the yen-dollar rate experienced three significant fluctuations by Wednesday of the week.

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