No Notice from Japan on Forex Intervention: Yellen

Economy Politics

Washington, Oct. 25 (Jiji Press)--The United States has not received a notice from Japan about its apparent yen-buying, dollar-selling market intervention on Friday, U.S. Treasury Secretary Janet Yellen has reportedly said.

"I'm not aware of any intervention that the Japanese have done, that they've indicated they've done," Yellen was quoted by Bloomberg as saying after her speech in New York on Monday.

Japan is believed to have conducted yen-buying intervention totaling around 5 trillion yen on Friday. The amount was the largest ever for such currency market intervention.

Previously, the Japanese government announced on Sept. 22 that Japanese authorities conducted their first yen-buying intervention in about 24 years.

"They did inform us previously of an intervention, which we understood was a concern over volatility," Yellen said, according to Bloomberg.

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