Japan’s $62bn support for yen provides little reprieve

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Japan spent a record ¥9.8tn ($62bn) from late April to May to boost the yen, but the currency has resumed its slide towards 34-year lows even as expectations build for interest rate rises, highlighting the struggle Tokyo faces to stabilise its exchange rate.

With currency interventions having only a fleeting effect on…