BOJ Accounts Suggest Japan Intervened Monday to Support Yen
- BOJ account changes suggest 5.5 trillion yen intervention
- Japanese officials haven’t said if they stepped in to buy yen
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Japan likely conducted its first currency intervention since 2022 to prop up the yen on Monday, according to a Bloomberg analysis of central bank accounts.
The BOJ reported Tuesday that its current account will probably fall ¥7.56 trillion ($48.2 billion) due to fiscal factors including government bond issuance and tax payments on Wednesday. That’s much bigger than a drop of about ¥2.1 trillion estimated by private money brokers, suggesting that intervention of about ¥5.5 trillion took place.