SINGAPORE, Aug 3 (Reuters) – The yen leapt on Monday, keeping traders on alert for further intervention from authorities to shore up Japan’s historically weak currency, days after Tokyo and Washington jointly intervened in the foreign exchange market. <\/p>\n
The Japanese currency rose more than 1% against the dollar early in the Asian session before paring some gains, after a surge of more than 3% over the two \u200ctrading sessions of Thursday and Friday. <\/p>\n
Here is a timeline of moves in foreign exchange markets by Japan’s finance ministry and Bank of Japan: <\/p>\n
August 2026 – The yen surged suddenly in the Asian morning, rising 1% \u200cagainst the dollar at one point to hit a three-month high, leaving traders on alert for further intervention from authorities. <\/p>\n
July 30-31, 2026 – Japan’s finance ministry confirmed that it conducted coordinated yen-buying intervention with the United States on July 31, and said it will not hesitate to take further \u200baction. <\/p>\n
The joint intervention was the first since 2011’s coordinated action to weaken the yen following the devastating earthquake in eastern Japan. <\/p>\n
Separately, Bank of Japan (BOJ) data showed that Tokyo may have sold as much as $58.97 billion a day earlier in its latest efforts to bolster its currency. <\/p>\n
The moves hauled the yen away from the 163 level to about 157 in the span of two days. <\/p>\n
April-May 2026 – The yen jumped as much as 3% to 155.5 yen against the dollar on April 30, after weakening to 160.72, its softest level since July 2024. <\/p>\n
The move followed Japanese Finance Minister Katayama’s remarks that “decisive” action was imminent, while top currency diplomat Atsushi Mimura warned: “This is our final evacuation warning to markets.” <\/p>\n
The dollar-yen rate spiked multiple times in following days. \u200cSubsequent data from the Ministry of Finance showed Japan spent 11.7 trillion yen ($72.52 billion) \u2060in foreign-exchange intervention over the period, a record monthly amount. <\/p>\n
July 11-12, 2024 – Japanese authorities spent 5.53 trillion yen ($36.8 billion) intervening in the foreign exchange market, helping the yen jump from as low as 161.76 per dollar to as high as 157.30. <\/p>\n
June 26, 2024 – Top currency diplomat Masato Kanda said Japanese authorities were “seriously concerned and on high alert” about the yen’s rapid \u2060decline, escalating warnings as the currency languished at its weakest level in about 38 years. <\/p>\n
April-May, 2024 – Japan conducted a record single-day yen-buying intervention on April 29 after the currency hit 160.245 per dollar, followed by another round of intervention on May 1 for a total of 9.79 trillion yen ($62.23 billion). <\/p>\n
Story Continues <\/p>\n
March 27, 2024 – Bank of Japan, the Finance Ministry and Japan’s Financial Services Agency held a meeting after the yen fell to a 34-year low against the dollar, and suggested they were ready to intervene. <\/p>\n
October 21-24, 2022 – Japan \u200bused \u200b6.3499 trillion yen ($42.8 billion) on currency intervention to prop up the yen in what was the nation’s largest amount of yen-buying, dollar-selling \u200bintervention at the time. <\/p>\n
September 7, 2022 – Top government spokesman Hirokazu Matsuno expresses concern about “rapid, one-sided” \u200cmoves seen in the currency market after the yen weakens beyond 143 per dollar. <\/p>\n
June 10, 2022 – Japan’s government and central bank issue a rare joint statement saying they are concerned by recent sharp falls in the yen after it weakens beyond 134 per dollar. <\/p>\n
August and October, 2011 – Japan intervenes to curb gains that officials fear could derail recovery from an economic slump triggered by a massive earthquake and tsunami on March 11, 2011. <\/p>\n
March 18, 2011 – Group of Seven (G7) nations jointly intervene to stem yen strength when the currency spikes to a record high in the aftermath of the earthquake. <\/p>\n
September 15, 2010 – Japan intervenes in the currency market for the first time in six years, selling yen to stem a rise in the currency after the dollar hits a 15-year low at 82.87 yen. <\/p>\n
March 2004 – A 15-month campaign to curb the yen’s rise comes to an end after Japan has spent 35 trillion yen, or more than $300 billion, on \u200cintervention. <\/p>\n
May-June, 2002 – The BOJ intervenes to sell yen, often supported by the U.S. Federal Reserve and European Central Bank (ECB). The yen continues \u200bto gain. <\/p>\n
September 2001 – The BOJ intervenes to sell yen after the September 11 attacks in the United States. The ECB and New York \u200bFed operate on behalf of the BOJ. <\/p>\n
January 1999 to April 2000 – The BOJ sells yen at least \u200b18 times, including once via the Fed and once via the ECB, due to worries the currency’s strength will choke economic recovery. The yen continues to strengthen. <\/p>\n
1997 – 1998 – The Asian financial \u200ccrisis sees the yen weaken, reaching nearly 148 per dollar in August 1998, even after \u200bU.S. authorities join the BOJ to buy yen. <\/p>\n
April 1994 – August \u200b1995 – The dollar sinks to a record low against the German mark and a post-war low against the yen. The United States intervenes repeatedly, often with Japanese and European central banks, to prop up the greenback. <\/p>\n
1993 – The BOJ sells yen through much of the year to curb its strength. <\/p>\n
1991 – 1992 – The BOJ intervenes to support the yen, selling U.S. dollars. <\/p>\n
1988 – The dollar falls to 120.45 yen on Jan. 4, at that \u200btime a post-World War Two low. The BOJ intervenes to buy dollars and sell \u200cyen. <\/p>\n
1987 – In February, six of the G7 nations sign the Louvre Accord, which aims to stabilise currencies and halt the dollar’s broad decline. <\/p>\n
1985 – The Group of Five industrial nations, the predecessor to the \u200bG7, sign the Plaza Accord, in which they agree that the dollar is overvalued and that they will move to weaken it. <\/p>\n
1973 – Japanese monetary authorities decide to let the yen float freely \u200bagainst the greenback. <\/p>\n
($1 = 161.3400 yen) <\/p>\n
(Compiled by Tom Westbrook, Satoshi Sugiyama, and Rocky Swift; Editing by Sam Holmes and Muralikumar Anantharaman) <\/p>\n","protected":false},"excerpt":{"rendered":"SINGAPORE, Aug 3 (Reuters) – The yen leapt on Monday, keeping traders on alert for further intervention from…\n","protected":false},"author":2,"featured_media":68413,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1300,12090,8605,14885,11921,8,12203,33],"class_list":["post-68412","post","type-post","status-publish","format-standard","has-post-thumbnail","category-japan","tag-bank-of-japan","tag-currency-intervention","tag-eastern-japan","tag-foreign-exchange-market","tag-intervention","tag-japan","tag-japanese-authorities","tag-nihon"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/68412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/comments?post=68412"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/posts\/68412\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media\/68413"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/media?parent=68412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/categories?post=68412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/japan\/wp-json\/wp\/v2\/tags?post=68412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}