# Yen intervention a hard sell even as 150 to the dollar 'red line' beckons | Reuters

> The yen slid about 3% in September to 149.71 per dollar on Wednesday, its weakest in 11 months. The Bank of Japan's reluctance to exit ultra-easy policy, while the Federal Reserve keeps tightening options open, is driving the decline. Traders are watching 150 per dollar as a level that could prompt intervention.

- Date: 2023-09-29 · published 2023-09-29T12:00:00.000Z
- Category: macro · region Japan · magnitude medium
- Page: https://feedsoft.ai/events/34347-yen-intervention-a-hard-sell-even-as-150-to-the-dollar-red-line-beckons-reuters
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker yen raises the local-currency cost of dollar-priced grain and meal imports for Japanese feed buyers, while a stronger dollar tends to pressure dollar-denominated commodity prices.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-25 | [Yen hits 11-month low against dollar, watched for intervention risk \| Reuters](https://feedsoft.ai/events/34307-yen-hits-11-month-low-against-dollar-watched-for-intervention-risk-reuters.md) | +0.6% | +1.4% |
| DXY | 2023-06-30 | [Yen weakens to ¥145 per dollar, nears 2022 intervention level - The Japan Times](https://feedsoft.ai/events/35733-yen-weakens-to-145-per-dollar-nears-2022-intervention-level-the-japan-times.md) | -0.4% | -1.5% |
| DXY | 2021-12-03 | [Dollar has the interest rate edge to rule for now: Reuters poll By Reuters](https://feedsoft.ai/events/43791-dollar-has-the-interest-rate-edge-to-rule-for-now-reuters-poll-by-reuters.md) | -0.2% | -0.5% |
| DXY | 2024-03-01 | [JPY/USD Yen Weakens Through 150 Per Dollar, Raising Intervention Risk](https://feedsoft.ai/events/31916-jpy-usd-yen-weakens-through-150-per-dollar-raising-intervention-risk.md) | -0.8% | -0.1% |
| DXY | 2022-09-23 | [Yen propped up after intervention, dollar powers through - Markets - Business Recorder](https://feedsoft.ai/events/39812-yen-propped-up-after-intervention-dollar-powers-through-markets-business.md) | +1.1% | +1.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/yen-intervention-hard-sell-even-150dlr-red-line-beckons-2023-09-29/

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