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BOJ data suggests intervention of around Yen 5 Trillion on Friday
Data released from the Bank of Japan just now gives us some indication of how many dollars they may have sold on Friday. The data suggests around 5.3 Trillion Yen was bought and that translates to a dollar figure of around $33.125 billion. So when added to that we estimate on Thursday (around $53 billion), it comes to a total of around $86 billion in dollar sales and that of course more than explains the 876 point slide seen over the past two trading days.
The USD/JPY was trying to push above the 157 handle when this news broke across the wires. It traded to around 157.03. It is currently trading at 156.95
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BOJ data suggests intervention of around Yen 5 Trillion on Friday
Data released from the Bank of Japan just now gives us some indication of how many dollars they may have sold on Friday. The data suggests around 5.3...