Japan has confirmed currency intervention
Japan's Ministry of Finance confirmed Friday its first currency intervention since 2022, after the yen plunged to a 34-year low in April. Between April 26 and May 29, Japan spent 9.7885 trillion yen ($62.25 billion) on intervention, coinciding with a sharp yen rebound. The yen hit 160.03 against the U.S. dollar on April 29, prompting speculation of intervention, and strengthened over 2% shortly after. Analysts estimated the initial intervention at 5-6 trillion yen. Japanese Finance Minister Shunichi Suzuki emphasized the need for intervention if sharp currency moves impact households and companies, echoing similar actions taken in October 2022.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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