Japan conducts record FX intervention

May saw the Bank of Japan's largest ever monthly intervention in the foreign exchange markets using Y3,900bn to halt the Yen's rise.

Source: Financial Times

The Bank of Japan conducted its largest ever monthly intervention in the foreign exchange markets in May, using Y3,900bn to ensure the yen did not strengthen beyond Y115 to the dollar and snap off any chance of an economic recovery before it had even begun.

The central bank's yen selling binge outstrips the Y3, 210bn used to weaken the yen i