We had earlier heard estimates that the total amount of intervention today had exceeded $20 bln. The Nikkei now reports that the BOJ/MOF spent that amount in London and New York, not counting Tokyo. They are expected to continue buying dollars in the coming days, the paper reports.
USD/JPY continues to change hands in the low 85.60s with Japanese exporters seen as the main USD sellers. Hedge funds have been quite long of USD/JPY (particularly Soros, from what we hear), so they may be taking some profits as well…
UPDATE: Looks like our numbers were accurate after all. Reuters corrects there headline on the Nikkei story to “BOJ sold 2 trln yen globally”.
