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According to market estimates, the government and Bank of Japan's foreign exchange intervention to buy yen, which began on July 30, was worth 12 trillion to 13 trillion yen. Will intervention that exceeds the record high in 2024 put a stop to the historic depreciation of the yen? The macroeconomic structure surrounding foreign exchange and investor behavior hold the key. The government and the Bank of Japan intervened on July 30th and 31st. A total of 11 trillion to 12 trillion yen is estimated to be made over the two days. There is a view that this was also carried out on August 3rd. This year, from late April to late May, approximately 11.7 trillion

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