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The yen rallied more than 2% on Monday after dropping to 160.17 per dollar, its weakest in 34 years. Traders speculated that Japan intervened to support the currency for the first time since 2022.
Suspected intervention introduces volatility into yen-denominated import costs and may briefly weaken the dollar against Asian currencies.
bloomberg.comRuth CarsonMay 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.
