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The yen weakened past 161 per dollar for the first time since 1986 on Friday. Japan reportedly replaced its top currency diplomat, Masato Kanda, with Atsushi Mimura, after the finance ministry intervened for about $62 billion between April and May.
The personnel change and the earlier intervention show Tokyo is willing to act against yen weakness, which could strengthen the yen and lower Japan's dollar import costs. Renewed intervention would be the main near-term risk to the current trend.
cnbc.comLim Hui JieJul 1, 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.
