# Japan's yen hits 34-year low, sparking intervention warnings | Reuters

> The Japanese yen fell to a 34-year low, driven by the widening gap between US and Japanese bond yields. The Bank of Japan's recent small rate hike did little to change the trend, and markets are watching for intervention.

- Date: 2024-03-27 · published 2024-03-27T12:00:00.000Z
- Category: macro · region Japan · magnitude medium
- Page: https://feedsoft.ai/events/31393-japan-s-yen-hits-34-year-low-sparking-intervention-warnings-reuters
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A weaker yen raises the dollar cost of Japanese purchases of US feed and ingredients, which can soften demand at the margin. A possible intervention could create sharp currency swings that affect import pricing.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-03-27/yen-drops-to-lowest-since-1990-amid-intervention-speculation
- cnbc.com: https://www.cnbc.com/2024/03/27/yen-hits-34-yr-low-ahead-of-key-us-inflation-data.html
- reuters.com: https://www.reuters.com/markets/currencies/dollar-steadies-yen-teeters-ahead-key-us-inflation-data-2024-03-27/

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