Japan Confirms Record $73 Billion Yen Intervention to Stabilize Currency
The Japanese Ministry of Finance confirmed on Friday that it spent a record 9.79 trillion yen, equivalent to approximately $73 billion, between April 28 and May 27 to support the yen. This intervention follows a period of extreme volatility that saw the currency plummet to 34-year lows against the U.S. dollar, prompting Tokyo to take…