Japan Confirmed: Multiple Yen Interventions During Golden Week, Total Hits ~10 Trillion Yen Following April 30 Action
Reuters reports Japan conducted multiple yen-buying interventions during the May Golden Week, exploiting thin holiday liquidity. Combined with the April 30 operation of about 5 trillion yen, the total reaches roughly 10 trillion yen. Vice Finance Minister Mimura stated IMF rules do not constrain intervention frequency, while a meeting with US Treasury Secretary Bessent looms. How would your central bank respond in this position?