Reported 4 months ago
Japan's finance minister, Shunichi Suzuki, acknowledged that the government's intervention in the currency market had a certain effect in countering excessive FX moves driven by speculation. The ministry disclosed that Japan spent ¥9.8 trillion ($62.7 billion) to support the yen, leading to a weaker yen than before the interventions. Analysts have mixed opinions on the long-term effectiveness of the interventions, with some believing it prevented further weakening while others question its sustainability.
Source: YAHOO