Japan Invests $96.4 Billion in a Month to Support Yen, Setting a Record

Japan has invested $96.4 billion in the past month to support the yen, setting a record for monthly intervention amounts. Data shows that from July 30 to August 26, the Japanese government injected a total of 15.4 trillion yen into the foreign exchange market. The yen had once fallen to its lowest level in 40 years, indicating that Japanese authorities are willing to take strong measures to support the exchange rate. This intervention received support from the United States, sending a warning to speculators to avoid betting on a decline in the yen. Japanese Finance Minister Shunichi Suzuki and U.S. Treasury Secretary Janet Yellen confirmed that the two countries coordinated their intervention on July 31 and stated that they would intervene in the market again if necessary. The funds contributed by the U.S. are not included in the data released by the Japanese Ministry of Finance and are expected to be relatively small, but carry significant symbolic weight.

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