π΄ Japan pumps record cash to prop up the yen
Japan injected a massive $96.5 billion into the currency market over the last month to stabilize the yen. This significant financial intervention was conducted by the Japanese Ministry of Finance. The support efforts spanned the period from May 1 to May 31, 2024. This massive spending comes as the yen has faced considerable volatility against major global currencies. Officials are now closely monitoring the market response to these large-scale interventions.