Japan Spent $42 Billion in October to Prop Up Yen in Markets

From bnnbloomberg.ca

Japan spent a record 6.3 trillion yen ($42.4 billion) in October to counter the yen’s sharp slide against the dollar, as it tried to limit speculative moves adding to pressure on the currency. The finance ministry disclosed on Monday data for the period between Sept. 29 to Oct. 27. Central bank figures and market estimates of money flows with the government had suggested that a suspected intervention on Oct. 21 cost around 5.5 trillion yen ($37.2 billion). Other moments of high volatility including a sharp move on Oct. 24 have kept traders guessing over how often authorities have been operating in the markets and ... (full story)