Japanese authorities carried out a record single-day intervention in the foreign exchange market in late April, deploying nearly $40 billion to support the yen as the government stepped up efforts to counter the currency's sharp depreciation, Reuters reported.
According to data released by Japan's Ministry of Finance (MOF) on Friday, authorities intervened on three separate days between April 30 and May 6, taking advantage of relatively thin market liquidity during the Golden Week holidays. Reuters reported that the operations formed part of a broader record monthly intervention totalling 11.7 trillion yen conducted between April 28 and May 27.
