The Japanese government and the Bank of Japan intervened in the foreign exchange market on April 30, purchasing yen and selling U.S. dollars. This action was taken as the yen fell below 160 against the U.S. dollar, marking its lowest level in 19 months. Following the intervention, the yen rebounded to trade above 155. A government official confirmed the intervention to Nikkei, highlighting efforts to stabilize the currency.
Japan Intervenes in Forex Market to Support Yen
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