Japan made no stealth intervention in September
© Reuters. FILE PHOTO: A picture illustration shows U.S. 100 dollar banks and Japanese 10,000 yen notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao
TOKYO (Reuters) – Japan did not conduct stealth intervention in September, only entering the market to buy the yen for dollars on Sept. 22, which it confirmed on the day, government data showed on Tuesday.
The government announced in September that it had spent 2.8 trillion yen ($19.3 billion) that month to support the yen for the first time in more than two decades. Authorities had remained mum on whether they had intervened after Sept. 22.
Japan subsequently spent a record 6.35 trillion yen on currency intervention last month, and investors are keen for clues on how much more authorities might step in to soften the yen’s sharp fall.
($1 = 146.8700 yen)