Japan's FX reserves posted a record monthly decline in August after Tokyo launched a fresh, large-scale dollar-selling/yen-buying intervention to counter yen weakness, the Finance Ministry said. Reserves fell to $1.208 tln at end-August from $1.287 tln a month earlier, a record drop of $79.6 bln, or 6.18%. The fall was driven largely by a sharp reduction in foreign-currency securities holdings, much of which are US Treasuries bought during dollar-buying interventions about 20 years ago and which

Japan's FX reserves posted a record monthly decline in August after Tokyo launched a fresh, large-scale dollar-selling/yen-buying intervention to counter yen weakness, the Finance Ministry said. Reserves fell to $1.208 tln at end-August from $1.287 tln a month earlier, a record drop of $79.6 bln, or 6.18%. The fall was driven largely by a sharp reduction in foreign-currency securities holdings, much of which are US Treasuries bought during dollar-buying interventions about 20 years ago and which account for roughly 70% of Japan's FX reserves.