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The dollar slipped from an eight-week high against the yen on Monday, as traders stayed alert for government intervention after the yen neared 160. The yen has been pressured after the Bank of Japan postponed reducing its bond-buying stimulus until July.
Intervention risk limits further yen weakness, but the yen is still down about 12% this year, keeping Japanese dollar-priced import costs high. The Bank of Japan's July decision is a potential next catalyst.
reuters.comAlden Bentley, Gertrude Chavez-DreyfussJun 24, 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.
