# Yen Sparks Intervention Suspicion After U-Turn From 1990 Lows

> 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.

- Date: 2024-05-01 · published 2024-05-01T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/30964-yen-sparks-intervention-suspicion-after-u-turn-from-1990-lows
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Suspected intervention introduces volatility into yen-denominated import costs and may briefly weaken the dollar against Asian currencies.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-04-29/yen-slides-past-160-against-dollar-for-first-time-since-1990

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