Japan intervened in forex markets, spending $67 billion
Japan intervened in forex markets during early May holidays and on April 30, spending around $67 billion to support the yen.
The intervention was deliberately timed to coincide with the holiday period when market liquidity was thin.
BOJ money market data indicated Japan may have spent as much as 5 trillion yen, approximately $32 billion, between May 1 and May 6.
The April 30 intervention may have cost around $35 billion, aimed at halting a yen slide to a near two-year low against the dollar.