# Why the Japanese yen is hovering near three-month lows against the dollar

> The Japanese yen hovered near three-month lows against the dollar after touching 153.18. Analysts cited the upcoming Japanese elections, strong US growth indicators and the persistent interest rate gap as pressure on the yen.

- Date: 2024-10-24 · published 2024-10-24T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/28107-why-the-japanese-yen-is-hovering-near-three-month-lows-against-the-dollar
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A weak yen raises the dollar cost of imported feed and makes Japanese buyers more cautious on US corn and soymeal purchases, a mild bearish influence on prices.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- cnbc.com: https://www.cnbc.com/2024/10/24/why-is-the-japanese-yen-hovering-near-three-month-lows-against-the-dollar-.html

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