Japan's Record Currency Interventions Appear Least Successful -- Market Talk

Dow Jones05-29 19:45

1145 GMT - Japan's recent currency interventions to shore up the yen appear the least successful, MUFG Bank's Derek Halpenny says in a note. The Ministry of Finance said Friday that Japan spent a record 11.7349 trillion yen, or $73.69 billion, on interventions between April 28 and May 27. However, the yen only recovered briefly as the dollar versus the yen has since returned close to levels seen before the interventions. A potential Middle East deal would play a bigger role in driving the dollar lower versus the yen if global yields fall on reduced inflation fears, Halpenny says. The dollar last trades at 159.26 yen. It reached a low of 155.02 on May 6 after the latest interventions before turning higher, LSEG data show. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

May 29, 2026 07:45 ET (11:45 GMT)

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A potential Middle East deal would play a bigger role in driving the dollar lower versus the yen if global yields fall on reduced inflation fears, Halpenny says. The dollar last trades at 159.26 yen. It reached a low of 155.02 on May 6 after the latest interventions before turning higher, LSEG data show. 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The dollar last trades at 159.26 yen. It reached a low of 155.02 on May 6 after the latest interventions before turning higher, LSEG data show. 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