Japan may have already spent approximately $34.5 billion intervening in the yen's exchange rate.

CoinFeed reported on May 1st that, according to an analysis of the Bank of Japan's accounts, Japan may have intervened in the currency market on Thursday, using approximately $34.5 billion for the first time since July 2024, to support the yen. By comparing data from the Bank of Japan's accounts with forecasts from currency brokers, the intervention is estimated to be around 5.4 trillion yen. In 2024, Japanese authorities intervened to support the yen four times, averaging about 3.8 trillion yen each time. On Thursday evening, Japanese Finance Minister Satsuki Katayama warned that "decisive action" was imminent, after which the yen appreciated sharply. Subsequently, an informed source revealed that the authorities had intervened in the market. Data released by the central bank on Friday indicated that, due to fiscal factors, its current account is expected to decrease by 9.48 trillion yen next Thursday (the first working day after the Golden Week holiday).