(Bloomberg) -- Traders can look to data from the Bank of Japan for clues on whether authorities stepped into the currency market for a second time this week to stem the yen’s slide.

The central bank will release forecasts tonight for its current account balance on May 7. Estimates from private money brokers including Totan Research Co., made before suspected intervention overnight, call for a drop ranging from ¥700 billion ($4.49 billion) to ¥1.1 trillion due to fiscal factors including government bond issuance. If the BOJ forecasts a decrease that’s significantly larger, that could suggest the government intervened to buy the yen.

The yen surged 3% in minutes in New York overnight, fueling speculation that Japanese authorities intervened to support the currency after a prolonged bout of weakness. BOJ accounts data on Tuesday showed Japan likely conducted its first intervention since 2022 the previous day, spending about ¥5.5 trillion, when liquidity was thin due to public holiday in the country.

The nation’s top currency official Masato Kanda said on Thursday he has nothing to say on whether authorities stepped into the foreign exchange market.

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