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Japan reportedly conducts first FX intervention since 2024 to counter speculative moves

  • An official intervention is reported for the first time since 2024.
  • Japanese authorities take action after issuing repeated warnings to markets.
  • The move is seen as a response to excessive and speculative currency dynamics.

Japanese authorities reportedly intervened directly in the foreign exchange market on Thursday, according to Reuters, citing Nikkei, which attributed the information to Japanese government sources. This action would mark the first official intervention of this kind since 2024, amid heightened vigilance over currency market movements.

Japan intervened by buying its currency and selling the US Dollar (USD). The operation is said to have been conducted jointly by the Ministry of Finance and the central bank, although no immediate official confirmation has been provided.

The move comes after a series of increasingly explicit signals from Japanese officials. Earlier in the day, Finance Minister Satsuki Katayama stated that the timing for “decisive action” was approaching, while top currency diplomat Atsushi Mimura warned of rising speculative activity in the market.

Market reaction

The Japanese Yen (JPY) remains supported following earlier intervention signals, with USD/JPY falling by 2.21% on Thursday to trade around 156.90 at the time of writing, reflecting the immediate market impact of both verbal and direct actions by authorities.

Japanese Yen Price Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the US Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD-0.13%-0.32%-2.23%-0.16%-0.67%-0.74%-0.94%
EUR0.13%-0.15%-2.09%-0.03%-0.51%-0.58%-0.78%
GBP0.32%0.15%-1.93%0.13%-0.35%-0.42%-0.63%
JPY2.23%2.09%1.93%2.08%1.58%1.46%1.26%
CAD0.16%0.03%-0.13%-2.08%-0.51%-0.60%-0.78%
AUD0.67%0.51%0.35%-1.58%0.51%-0.07%-0.26%
NZD0.74%0.58%0.42%-1.46%0.60%0.07%-0.20%
CHF0.94%0.78%0.63%-1.26%0.78%0.26%0.20%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

Author

Ghiles Guezout

Ghiles Guezout is a Market Analyst with a strong background in stock market investments, trading, and cryptocurrencies. He combines fundamental and technical analysis skills to identify market opportunities.

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