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The yen recovered to 157 per dollar after falling through the level that prompted the latest suspected intervention. It had dropped to a four-week low of 157.71 before rebounding.
The move suggests intervention has had limited lasting effect.
The limited impact of intervention means the yen could weaken again, keeping Japanese import costs for feed elevated. Traders will watch whether authorities act again near the 157-160 zone.
bloomberg.comYumi TesoJun 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.
