RTRS: ECB action to weaken yen seen at 5 bln euros-Nomura
(Reuters) - Intervention by the European Central Bank to weaken the yen was estimated to be around 5 billion euros, said James Pearson, global head of FX trading at Nomura Securities International in London.
Pearson told a conference call on Friday that the figure was his rough estimate.
ECB intervention was done through purchases of the euro versus the yen. As a result, euro/yen rose to 115.50 from 115 in fairly short order.
The euro was last at 114.50 yen EURJPY=, up 3.5 percent on the day. (Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)
