Reported 4 months ago
Japan has spent a record ¥9.8 trillion ($62.2 billion) in the past month to support the yen after it hit a 34-year low against the dollar. This amount surpasses what was spent in 2022 to defend the currency. The massive intervention reflects Japan's commitment to resist speculators betting against the yen, but experts note that the impact may be short-lived due to market dynamics and interest rate discrepancies between Japan and the US.
Source: YAHOO