gamemobileblockchain| 5.5 trillion yen! Bank of Japan accounts show that the government has intervened!

Huitong, May 1-- according to Bloomberg's central bank accountGamemobileblockchainAnalysis ofGamemobileblockchainJapan may have intervened in its currency on Monday for the first time since 2022 to support the yen. The Bank of Japan reported on Tuesday that its current account could fall by 7% due to fiscal factors such as government bond issuance and taxes on Wednesday.Gamemobileblockchain.56 trillion yen ($48.2 billion). This is about 2% more than private money brokers estimate.GamemobileblockchainThe fall of Y.1tn was much larger, indicating an intervention of about 5.5 trillion yen.

Japan may have intervened in its currency on Monday for the first time since 2022 to support the yen, according to a Bloomberg analysis of central bank accounts.

The Bank of Japan reported on Tuesday that its current account could fall by 7.56 trillion yen ($48.2 billion) due to fiscal factors such as government bond issuance and taxes on Wednesday. This is much larger than the drop of about 2.1 trillion yen estimated by private money brokers, indicating an intervention of about 5.5 trillion yen.

The analysis shows that after weeks of oral intervention, the yen depreciated rapidly to more than 160 yen to the dollar on Monday, and the Japanese monetary authorities entered a new stage in foreign exchange processing. The Treasury did not confirm whether there was intervention, suggesting it would rather let traders guess.

Teppei Ino, head of global market research at Mitsubishi UFJ Bank Limited in Tokyo, said: "judging from the changes in the current account of the Bank of Japan, we can say that there was probably an intervention on April 29th. About 5 trillion yen basically in line with expectations. "

Totan Research Co. The BoJ's current account balance is expected to fall by 2.1 trillion yen due to fiscal factors such as government bond issuance and taxes. Central Tanshi Co. It is expected to decrease by 2.05 trillion yen.

Bloomberg's calculations provide only a rough figure, not a specific amount. The same mathematical calculation proved accurate, suggesting that the rise in the yen in October 2023 in tight markets was not the result of Japan's intervention to buy the yen. The calculation also estimates that the size of the intervention on October 21, 2022 is about 5.5 trillion yen. Official figures released later showed that the transaction volume was 5.6 trillion yen.

Japan's chief monetary official, Masahito Kanda, said on Tuesday that excessive speculative currency fluctuations would have a negative impact on the economy and that the authorities would take appropriate action to deal with such fluctuations. However, he did not say whether Japan entered the market on Monday, adding that Japan's Ministry of Finance would ensure that operating results were disclosed by the end of next month.

"simple calculations show that the scale of the intervention is roughly the same as the biggest move in 2022," said Junsuke Kobayashi, chief economist at Mizuho Securities. " He points out that Japan's returns on entering the market are diminishing. "you can say that the government has to waste money to buy time. If this goes on, the market will lose its vigilance and the effect of the next intervention will be weakened. "

The suspected intervention came on Monday after the yen hit 160 against the dollar for the first time since 1990. Later in the day, the yen rebounded sharply, with the currency rising more than 2%. This has sparked speculation that Japan has returned to the market for the first time since 2022 to support the yen.

[risk Tip] according to the relevant regulations on foreign exchange management, the buying and selling of foreign exchange shall be carried out at the trading venues prescribed by banks and other countries. Whoever buys and sells foreign exchange privately, buys and sells foreign exchange in disguise, buys and sells foreign exchange or illegally introduces a relatively large amount of foreign exchange shall be imposed by the foreign exchange control agency according to law; if the case constitutes a crime, he shall be investigated for criminal responsibility according to law.