# Yen Tanks After Dovish BOJ Signal Tempers Bets on Further Hikes

> The yen weakened as much as 2.5% to 147.90 per dollar after Bank of Japan Deputy Governor Uchida's comments, then pared its loss to about 146.81. The dovish signal reduced bets on further rate hikes. The move followed a sharp yen rally earlier in the month.

- Date: 2024-09-01 · published 2024-09-01T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/29046-yen-tanks-after-dovish-boj-signal-tempers-bets-on-further-hikes
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A dovish BOJ reduces expectations of yen appreciation, which lowers the pressure on carry-trade unwinds. The effect on feed-commodity prices is indirect.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-08-07/yen-extends-losses-against-dollar-as-market-volatility-continues

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