# Japanese Yen soars, outperforms, Dollar dips

> The yen gained against the dollar as risk aversion hit markets, with USD/JPY settling at 156.85 from 157.40. Japan's 10-year yield reached 1.1% for the first time since 2011 before settling at 1.05%. BOJ board member Seiji Adachi said the central bank may raise rates if the yen falls sharply and fuels inflation.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/30509-japanese-yen-soars-outperforms-dollar-dips
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A firmer yen and the BOJ's readiness to hike lower the dollar cost of imported feed for Japanese buyers. Rising Japanese yields also reduce the rate gap that has been driving yen weakness.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- fxstreet.com: https://www.fxstreet.com/analysis/japanese-yen-soars-outperforms-dollar-dips-202405310616

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