Japan likely conducted its first currency intervention since 2022 to prop up the yen on Monday, according to a Bloomberg analysis of central bank accounts.
The Bank of Japan reported Tuesday that its current account will probably fall ¥7.56 trillion ($48.2 billion) due to fiscal factors including government bond issuance and tax payments on Wednesday.
That’s much bigger than the drop of about ¥2.1 trillion that private money brokers estimated, suggesting an intervention of about ¥5.5 trillion took place.