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Japan spends $35 B to boost yen, eyes June rate hike

5/7/2026

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Summary

Story summary

Japan’s Ministry of Finance intervened during Golden Week, spending ¥4.68 trillion to support the yen.
The ministry bought ¥3.86 trillion ($24.7 bn) on April 30 to keep the yen above ¥160 per dollar.
Data on May 7 showed a $35 bn sale that lifted the yen to ¥155.04, then to about ¥156.35 per dollar.
U.S. Treasury Secretary Scott Bessent will meet Japanese officials as the BOJ’s June meeting has a 72 % chance of a rate hike.

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Story summary

Japan’s Ministry of Finance intervened during Golden Week, spending ¥4.68 trillion to support the yen.
The ministry bought ¥3.86 trillion ($24.7 bn) on April 30 to keep the yen above ¥160 per dollar.
Data on May 7 showed a $35 bn sale that lifted the yen to ¥155.04, then to about ¥156.35 per dollar.
U.S. Treasury Secretary Scott Bessent will meet Japanese officials as the BOJ’s June meeting has a 72 % chance of a rate hike.