Source says BOJ spent Y3 trln in intervention

Japan, worried that a strong yen could hurt an export-led recovery in its economy, spent about three trillion yen ($28.3 billion) in the first two days of this week to hold the currency down, market sources said Wednesday.

That figure compares with some 20 trillion yen ($188 billion) spent on yen-selling currency market intervention in the whole of 2003. The source said the Bank of Japan, acting on behalf of the Ministry of Finance (MOF), sold about 2.6 trillion yen on Monday. Despite the mass