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The yen weakened to 149.18 per dollar at one point on Tuesday, its lowest level since October last year. Dollar buying was fueled by the US Treasury yield reaching a 16-year high and a comment from a Fed official.
The move extends the yen's slide against the dollar.
Higher US yields and a firmer dollar raise the cost of dollar-priced feed imports for yen-based buyers and can weigh on dollar-denominated commodity prices.
asia.nikkei.comNikkei staff writersSep 26, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
