# Yen under renewed pressure following BoJ policy tweak

> The yen fell 1.7% to 151.60 per dollar, its weakest level since October last year, after the Bank of Japan changed the 1% cap on 10-year bond yields to a reference point. The move was the yen's biggest daily fall since April and came close to the level where authorities last intervened.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/33864-yen-under-renewed-pressure-following-boj-policy-tweak
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

The move reflects markets' view that Japanese policy remains behind the curve, which keeps import costs for Japanese feed buyers elevated and raises the risk of intervention that could cause sharp currency swings.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- ft.com: https://www.ft.com/content/68689510-c413-45ea-91c4-f28cc5f47c4b?syn-25a6b1a6=1

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