Japan spent $37 billion to support yen over past month

Japan's finance ministry said Wednesday it spent 5.5 trillion yen ($36.6 billion at today's rates) to boost the yen's value by intervening in forex markets between June 27 and July 29.

A surge in the currency's value in mid-June, shortly after US inflation data came in lower than anticipated, had triggered speculation among analysts of an intervention by Japanese authorities.

AFP