On Monday, the Bank of Japan stepped in to bolster the value of the rapidly depreciating yen, as the dollar-yen exchange rate plummeted to 160, marking a 34-year low and indicating a 10% drop since the beginning of the year. This intervention involves selling foreign exchange reserves to purchase domestic currency, although the scale of this action remains undisclosed. In the last occurrence of such intervention in October 2022, the BoJ purchased approximately 9.2 trillion yen ($60.78 billion) to defend the currency. The initial market reactions saw the yen's value surge by as much as 3% to 155 per US dollar, before ... (full story)