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Japan did not intervene in forex market in past month, MOF data shows

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TOKYO : Japan's government confirmed on Tuesday that it did not intervene in the currency market to prop up the yen in the past month, data from the Ministry of Finance showed.The monthly Ministry of Finance data showed no spending on intervention between Sept. 28 and Oct. 27.

FILE PHOTO: Banknotes of Japanese yen are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration/File PhotoTOKYO : Japan's government confirmed on Tuesday that it did not intervene in the currency market to prop up the yen in the past month, data from the Ministry of Finance showed.

The monthly Ministry of Finance data showed no spending on intervention between Sept. 28 and Oct. 27. Earlier this month, the Japanese currency had rebounded sharply by around 3 yen within minutes of softening beyond 150 to the dollar, a level seen by investors as a possible trigger for intervention. The yen's weakening had been a source of concern as it raises energy costs and other expenses for households struggling with stagnant wages.

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