# Yen rises in rush for refuge from financial turmoil - Nikkei Asia

> The yen rose to a month-and-a-half high above 130 per dollar as investors fled to safe assets during the US and European banking turmoil. Foreign investors sought stability in Japanese government bonds, which they saw as a shelter from rate hikes abroad.

- Date: 2023-03-24 · published 2023-03-24T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/37110-yen-rises-in-rush-for-refuge-from-financial-turmoil-nikkei-asia
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Safe-haven yen strength makes dollar-priced grain and meal imports cheaper in yen terms, though the effect on global feed prices is small.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- asia.nikkei.com: https://asia.nikkei.com/business/markets/currencies/yen-rises-in-rush-for-refuge-from-financial-turmoil

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