Tom Dante: Japanese authorities spent $73 billion to support yen with little effect

Tom Dante: Japanese authorities spent $73 billion to support yen with little effect
Yen returns to 160 after intervention

Tom Dante, owner, trader, and educator at Personal Blog, observes that Japanese authorities spent approximately $73 billion to strengthen the yen in late April and May.

According to Dante, despite this large-scale intervention, the USD/JPY exchange rate has quickly rebounded to the 160 level that initially prompted government action.

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