BOJ accounts suggest Japan intervened in FX market on 1 May

The headlines as and when it happened:

• USD/JPY slammed lower
• USD/JPY is cratering, drops under 155.00 in super-thin intervention trade

The projections are from Reuters with Bloomberg calculating that the BOJ might have spent about ¥3.5 trillion instead. The BOJ’s projected accounts for Tuesday shows a net receipt of ¥4.36 trillion in funds. And if you offset that with the roughly ¥0.7 trillion to ¥1.1 trillion estimate from money market brokerages, that leaves with roughly the amount above in terms of money spent on intervention.

This article was written by Justin Low at www.forexlive.com.