# Yen hits six-week high, dollar dips for month-end

> The yen rose to a six-week high and the dollar dipped at month-end. Stronger-than-expected US economic data has raised bets that the Federal Reserve will slow its pace of rate cuts, and traders price about a 66% chance of a 25 basis point cut at the Dec. 17-18 meeting.

- Date: 2024-11-29 · published 2024-11-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/27606-yen-hits-six-week-high-dollar-dips-for-month-end
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer yen and softer dollar lower the cost of imported feed inputs priced in dollars for Japanese buyers, but the effect on grain and meal prices is limited. Fed pricing is the main channel for broader dollar moves.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-08-28 | [Dollar index dips, briefly hits 9-month high against yen](https://feedsoft.ai/events/34857-dollar-index-dips-briefly-hits-9-month-high-against-yen.md) | +0.2% | +1.3% |
| DXY | 2026-09-01 | [Sterling hits six-month high against fading dollar](https://feedsoft.ai/events/18143-sterling-hits-six-month-high-against-fading-dollar.md) | -0.6% | +2.1% |
| DXY | 2025-04-22 | [Japanese yen hits 7-month high as dollar tumbles-Xinhua](https://feedsoft.ai/events/25371-japanese-yen-hits-7-month-high-as-dollar-tumbles-xinhua.md) | +0.3% | +0.1% |
| DXY | 2017-07-31 | [Pound hits 10-month high of $1.32 on dollar's Trump slump](https://feedsoft.ai/events/70203-pound-hits-10-month-high-of-1-32-on-dollar-s-trump-slump.md) | +0.3% | -0.5% |
| DXY | 2025-12-03 | [Euro hits almost seven-week high, dollar broadly lower](https://feedsoft.ai/events/21725-euro-hits-almost-seven-week-high-dollar-broadly-lower.md) | -0.4% | -1.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/11/29/yen-surges-to-150-per-dollar-amid-growing-boj-rate-hike-bets.html
- reuters.com: https://www.reuters.com/markets/currencies/yen-surges-150-per-dollar-amid-growing-boj-rate-hike-bets-2024-11-29/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.