Yen currency intervention: Bank of England holdings

George Osborne has confirmed that the Bank of England is joining in the worldwide action to cap the yen, by selling some of its own yen reserves. It has just over $5bn-worth, so its share of the sell-off is likely to have been limited — the Bank of Japan is rumoured to have sold $75bn-worth of yen on Friday morning alone. At January 2011, the Bank of England held $20.5bn in US dollars, $23.7bn in euros, $5bn in Japanese yen, and $7m in other currencies. Bank of England currency reserves