Japan spends ¥5.5 trillion on forex interventions amid yen volatility
The yen’s drop from approximately ¥161 to ¥157 on July 11, following the release of the U.S. consumer price index for June, and a subsequent fall from around ¥159 to ¥157 on July 12, after the U.S. producer price index release, prompted these interventions. Market estimates suggest that Japanese authorities may have spent between ¥3 trillion and ¥4 trillion on July 11 alone, with additional expenditures of about ¥2 trillion on July 12.
