# JPY USD: Japan Spent Record $62 Billion in Past Month on Yen Intervention

> Japan spent a record ¥9.8 trillion ($62.2 billion) over the past month to support the yen after it fell to a 34-year low against the dollar. The amount exceeds Japan's total intervention in 2022. The yen has been under heavy pressure from the wide gap between US and Japanese interest rates.

- Date: 2024-06-01 · published 2024-06-01T12:00:00.000Z
- Category: macro · region Japan · magnitude high
- Page: https://feedsoft.ai/events/30503-jpy-usd-japan-spent-record-62-billion-in-past-month-on-yen-intervention
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Heavy intervention strengthens the yen against the dollar, which lowers the dollar cost of dollar-priced feed imports for Japanese buyers. It also signals that Tokyo will defend the currency, which may limit further yen weakness.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-05-31/japan-spent-record-62-billion-in-past-month-on-yen-intervention

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.