Japan spent record 15.4 trillion yen to support yen

Japanese authorities spent a record 15.4 trillion yen, equivalent to approximately $96.5 billion, intervening in foreign exchange markets over the past month to support the yen, according to Finance Ministry data released on Friday. The operation, which ran from July 30 to August 26, represents Tokyo's most aggressive effort to defend its currency as it languished near four-decade lows against the dollar. The intervention was triggered when the yen weakened to around 164 per U.S. dollar, a level that prompted a coordinated response.