Japan likely sold a portion of its holdings of foreign securities, including U.S. Treasurys, to finance its record currency intervention over the past month, despite concern in Washington over the impact of Treasury sales on long-term yields.
Tokyo’s holdings of foreign securities fell by $87.8 billion at the end of August from a month earlier, according to Finance Ministry reserve data released Monday. That decline was close to the scale of 91AV原创 recent intervention to support the yen.
The ministry earlier confirmed that authorities spent the equivalent of a monthly record ?15.4 trillion ($98.6 billion) in the month through Aug. 26, with part of the operation conducted jointly with the U.S. The monthly intervention is also the largest on record.
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