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Japan confirms FX interventions twice in Oct to support yen

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Japan confirmed on Tuesday that it did intervene in the foreign exchange market twice in October to support its yen currency, Ministry of Finance (MOF) data showed on Tuesday.
The quarterly data showed a steep drop in the yen to a 32-year low of 151.94 to the dollar on Oct. 21 triggered the intervention that day, followed by another on Oct. 24.
The stealth interventions, or making a foray in the market without announcing it, came after Tokyo intervened to buy the yen for dollars for the first time in 24 years on Sept.

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