Japan likely spent 4 tril. yen in suspected currency intervention in May

Japan likely spent an additional 4 trillion yen ($25.6 billion) to shore up the yen in another suspected market intervention following a yen-buying operation on April 30, a market estimate based on Bank of Japan data showed Thursday.The latest estimate brings the total size of suspected operations in May and on April 30 to around 10 trillion yen.On Friday, Monday and Wednesday, volatile moves were observed on the foreign exchange market, with the yen briefly jumping 1 to 2 yen against the U.S. dollar into the 155 zone, fueling speculation that the government conducted further rounds of inte…READ FULL ARTICLE