Japan likely spent 2 tril. yen on July 12 on currency market intervention

Japan likely spent around 2 trillion yen ($13 billion) to shore up the yen against the U.S. dollar last Friday, reinforcing market speculation that authorities intervened in the currency market for a second day, according to market sources and central bank data released Tuesday.The government has remained silent on whether it stepped into the market, leaving financial markets guessing. But the data suggested that Japan may have spent over 5 trillion yen in the latest cycle of interventions, helping lift the Japanese currency from a 37-year low near the 162 line.The estimated size of an inte…READ FULL ARTICLE