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The yen sank to its lowest against the dollar in nearly 38 years on Wednesday, with the dollar reaching 160.82. Wide interest rate gaps between Japan and the US, with US rates at 5.25% to 5.5%, drove carry trades and kept traders alert for intervention by Japan's Ministry of Finance.
Interest rate differentials are keeping the dollar strong against the yen, which raises Japan's import costs for dollar-priced commodities. A sudden intervention would be a key risk to this trend.
cnbc.comReutersJun 26, 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.
