Japanese Media: Japan Injects ¥10 Trillion to Intervene in FX Market, Resisting Yen Depreciation

(Central News Agency, Tokyo 8th Comprehensive Foreign Report) Japanese media reported that market estimates, based on central bank data, indicate Japan has injected approximately 10 trillion yen (about NT$2 trillion) into the foreign exchange market since last week to support the yen's value.

Japan's currency intervention action is believed to have started on April 30, when the yen depreciated against the US dollar to nearly 160 yen per dollar, a low in nearly two years.

Since then, the yen's value has risen sharply several times, prompting market speculation that Japanese authorities may intervene further. The yen-dollar exchange rate is currently close to 157 yen today.

Japanese media reported that Atsushi Mimura, Japan's top foreign exchange official and Vice Minister of Finance for International Affairs, declined to comment yesterday.

Nikkei newspaper noted that US Treasury Secretary Scott Bessent is expected to visit Japan next week to discuss exchange rates and other issues.

The report, citing US-Japan diplomatic sources, stated that Bessent will later accompany US President Trump on a visit to China.

Recent oil price increases and the widening interest rate differential between the US and Japan are considered the main reasons for the yen's weakening.

The last time Japanese authorities intervened in the foreign exchange market was in July 2024, when the yen against the US dollar approached 162 yen, and Japan injected about 5.5 trillion yen to support its value. (Compiler: Hsu Jui-Cheng) 1150508

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