Japanese forex reserves plummeted in May.

Data released by the Japanese Ministry of Finance on the 5th showed that as of the end of May this year, Japan's foreign exchange reserves were approximately $1.31 trillion, a decrease of 5.6% from the end of April, marking the largest monthly decline since comparable data was available. By the end of May, Japan's foreign exchange reserves had decreased by approximately $77.1 billion from the end of April, also setting a record for the highest decrease ever recorded. The data shows that the decrease in the amount of securities held, including U.S. Treasury bonds, is the main reason for the decrease in Japan's foreign exchange reserves. As of the end of May, the securities assets in Japan's foreign exchange reserves were approximately $931.68 billion, a decrease of 7.5% from the end of April. Analysts believe that the significant decrease in Japan's foreign exchange reserves reflects both the consumption of reserves due to government intervention in the foreign exchange market and the impact of the rise in U.S. long-term interest rates on the valuation of bond assets. Data previously released by the Japanese Ministry of Finance showed that the scale of foreign exchange interventions implemented by the Japanese government and the Bank of Japan from April 28 to May 27 totaled 11.73 trillion yen.