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The yen had weakened about 4.8% against the dollar so far in 2024 and was about two yen from 150 per dollar. Bloomberg reports there is no sign of imminent Japanese intervention, though speculation is building.
The level was last seen in November, when officials warned they could act.
A weaker yen raises Japan's yen cost of dollar-priced feed grains and meal, which can squeeze feed margins. Intervention risk caps how far the pair can rise.
bloomberg.comDaisuke SakaiJan 22, 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.
