Japan Likely Spent $22 Billion on Yen Intervention Thursday
- Tokyo tries new tactics to keep speculators on back foot
- Supporting a firming yen cut amount needed for intervention
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Japan likely stepped into currency markets for a third time this year to prop up the yen soon after US inflation figures came out Thursday, according to a Bloomberg analysis of central bank accounts.
The scale of intervention was probably around ¥3.5 trillion ($22 billion), based on a comparison of Bank of Japan accounts and money broker forecasts.