# Japanese Yen Strengthens After Bank of Japan Minutes Confirm Rate Hike Likely

> The Japanese yen strengthened after minutes from the Bank of Japan's latest meeting showed some policymakers favour ending negative interest rates. Markets had focused on the April meeting, but MUFG says March is now in scope. A policymaker cited improving wages as a reason conditions for policy change were being met.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/32361-japanese-yen-strengthens-after-bank-of-japan-minutes-confirm-rate-hike-likely
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Expected BoJ tightening lowers USD/JPY, which reduces the yen cost of dollar-priced feed imports for Japan. The effect on grain prices is indirect and modest.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/yen/19794-japanese-yen-strengthens-after-bank-of-japan-minutes-confirm-rate-hike-likely

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