# Yen surges on suspected intervention, 160 seen as key level

> The dollar fell sharply to 153 yen from about 157.55 yen, with traders attributing the move to suspected Japanese Ministry of Finance dollar selling. The yen had been weak near 160 per dollar, a level seen as key by the market. The move came after a sustained slide driven by interest-rate differentials.

- Date: 2024-05-01 · published 2024-05-01T12:00:00.000Z
- Category: macro · region Japan · magnitude medium
- Page: https://feedsoft.ai/events/30505-yen-surges-on-suspected-intervention-160-seen-as-key-level
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Suspected intervention signals official resistance to yen weakness, which can cut the yen cost of dollar-priced feed imports. Whether the intervention holds determines how far the currency pair can retrace.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollaryen-extends-loss-amid-specter-boj-intervention-2024-05-01/

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