The estimated intervention on Thursday, worth about $52.8 billion, points to official action to slow yen weakness in currency markets.
Bank of Japan data suggest Japan intervened in the currency market on Thursday to support the yen, spending about 8.45 trillion yen, or roughly $52.8 billion. Such intervention typically involves authorities buying yen to counter sharp declines in the currency, a move closely watched by global investors because it can affect foreign-exchange volatility and signal policymakers’ tolerance for further weakness.