# Dollar strengthens against yen on Bank of Japan's hike uncertainty

> The dollar strengthened against the yen after Bank of Japan Governor Kazuo Ueda kept open the possibility of a rate hike as early as December. The market priced roughly a 54% chance of a quarter-point hike at the next policy meeting, while the dollar index fell 0.5% to 106.20.

- Date: 2024-11-18 · published 2024-11-18T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/27611-dollar-strengthens-against-yen-on-bank-of-japan-s-hike-uncertainty
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Expectations of BOJ tightening support the yen and limit the dollar's gains against it, which affects the cost of yen-denominated feed imports for Japan. The effect on grain and meal prices is minor.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-firms-against-yen-boj-leaves-open-timing-hikes-2024-11-18/

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