Japan reported no yen intervention in the month to June 26

Japan's Ministry of Finance published its monthly intervention figure on June 30 and recorded no operations at all between May 28 and June 26. The prior window tells the other half. Between April 28 and May 27 the ministry spent 11,734.9 billion yen, roughly $72bn, after the currency first passed 160 to the dollar. The yen has kept falling since. Jason Ma at Fortune reported it trading at 162.30 on July 6, a 40-year low, down about 3.6% this year and near 11% against a year ago, with government debt at 240% of GDP. Robin Brooks of the Brookings Institution told Fortune that intervention treats the symptom rather than the debt, and expects 170. Chris Turner, global head of markets research at ING, called intervention at present an exercise in futility. Finance Minister Satsuki Katayama said the government is ready to act against excessive moves.