© Reuters. A man looks at an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar and Nikkei share average outside a brokerage in Tokyo, Japan October 4, 2023. REUTERS/Issei Kato
TOKYO (Reuters) – The Bank of Japan’s money market data showed on Wednesday that Japan likely did not intervene in the currency market a day earlier, as the current account balance was projected to be within market estimates.
The BOJ’s projection for Thursday’s money market conditions showed there will be a 10 billion yen ($67.06 million) surplus, within the range of 0 to 200 billion yen that money brokerages had been expecting, excluding intervention.
After breaching the 150 yen mark in New York trading hours on Tuesday, the dollar fell about 3 yen, fuelling speculation among some that Japanese authorities had intervened to prop up the yen, though most suspected otherwise.
($1 = 149.1200 yen)
