Japan likely spent around $34.5 billion Thursday in its first currency intervention to prop up the yen since July 2024, according to a Bloomberg analysis of central bank accounts.

The scale of intervention was probably around ¥5.4 trillion, based on a comparison of Bank of Japan accounts released Friday and money broker forecasts. In 2024, authorities spent an average of ¥3.8 trillion on four occasions to support the yen.