Japan’s suspected currency intervention on Monday is raising questions about how far authorities will need to go to meaningfully prop up the yen. Despite thin liquidity due to a holiday in Japan, which typically exacerbates market moves, officials may have spent nearly as much as one of the interventions in 2022, when they bought a record amount of yen, according to a Bloomberg analysis of central bank accounts. “Despite spending ¥5 trillion in a market where there should have been little trading activity, the yen was pushed up by only a little over ¥5 and quickly recovered more than half its value,” said Takuya ... (full story)