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Japan Data Confirms MOF Intervened In FX Market After Oct 31
The Japanese finance ministry conducted stealth intervention in the currency markets to stem the yen's rise after its highly publicized yen-selling campaign on Oct. 31, data released by the Ministry confirmed Tuesday. The data, which provide a daily breakdown of MOF's currency intervention in the last quarter of 2011, show that the ministry covertly bought dollars for yen from Nov. 1 through Nov. 4. The ministry sold Y8.072 trillion on Oct. 31, and Y1.019 trillion in the four days afterward, the data showed. The outcome was roughly in line with market expectations that the ministry was covertly active in the market ... (full story)
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