On April 30, Japan’s Ministry of Finance and the Bank of Japan carried out a historic forex intervention, spending 6.28 trillion yen to support the yen. This operation aimed to counter the weakening of the Japanese currency, which had fallen to around 160.7 yen per dollar. The intervention temporarily strengthened the yen to approximately 155 yen per dollar. This represents the largest single-day yen-buying operation ever recorded in Japan. Despite this major intervention, the Japanese currency ultimately resumed its downward trend.
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