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Japan may have sold $58.97 billion in yen-buying intervention

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TOKYO, July 31 : Japan may have sold as much as $58.97 billion in its latest efforts to bolster its currency, central bank data indicated on Friday, signalling repeated efforts to stem the yen’s weakness.

The Bank of Japan’s projection for money market conditions for the following day suggests a 8.2 trillion yen net outflow of funds, compared with brokerage forecasts that range between a surplus of 1.4 trillion yen and a shortfall of 1.73 trillion yen.

Yen-buying activity involves the BOJ soaking up the currency from markets, so any outsized shortfalls in funds can offer an estimate of the size of any intervention.

Source: Reuters

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