Japan Likely Sold Foreign Securities to Fund FX Intervention

Japan Likely Sold Foreign Securities to Fund FX Intervention
Japan’s holdings of foreign securities decreased in July, suggesting that the government likely financed a large portion of the recent currency intervention by selling Treasuries. The country’s holdings of foreign securities fell by about $17 billion in July to $911 billion, the Finance Ministry reported Wednesday. Foreign deposits remained largely unchanged at $159 billion, as total reserves edged lower to... ...

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