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The yen weakened past 161 per US dollar on Friday, its weakest level since 1986, amid broad dollar strength. The move raised expectations that Japanese authorities could intervene in the currency market, and traders were also watching the US inflation data and the first presidential debate.
A weaker yen raises Japan's import costs for feed ingredients and other commodities priced in dollars, which can weigh on Japanese buyers' demand. Intervention to support the yen could quickly reverse the move and change the cost outlook.
bloomberg.comMasaki KondoJun 28, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
