Japan may not have intervened in FX market on Monday despite yen's surge, BOJ data suggests
FXY•Reporting and editing credits
Reporting by Junko Fujita and Satoshi Sugiyama; Editing by Clarence Fernandez.
Yen surges after prior intervention was confirmed
The yen suddenly leapt in the Asian morning on Monday to hit 155.20 per dollar, its strongest in about three months, as traders kept on alert for further intervention by authorities.
The yen's jump came after Japan's finance ministry confirmed it had engaged in joint yen-buying intervention with the United States on Friday.
On Monday, Bank of Japan data showed Tokyo may have spent as much as $36.58 billion to buy yen to strengthen the currency.
Friday's joint intervention followed Tokyo's solo intervention worth up to $.58.97 billion in New York markets a day earlier.
($1 = 157.8500 yen)
BOJ data points to possible absence of Monday intervention
TOKYO, Aug 4 (Reuters) - Japan may not have intervened in the currency market on Monday, central bank data indicated, despite a sudden surge in the yen that led traders to anticipate a third straight day of intervention.
The Bank of Japan's projection for money market conditions for Wednesday points to a shortfall of 3.38 trillion yen ($21.43 billion) versus brokerage forecasts of a shortfall of between 2.32 trillion and 2.6 trillion.
Tuesday's data did not indicate a large outflow in the central bank's current account balances. Outsized outflows are typically interpreted as correlating with the size of any intervention.
