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Dollar-yen fell about 4% from its Wednesday close toward support levels just above 140 after US inflation data. A break below those levels could open the way for further yen gains.
The yen remains the worst-performing Group-of-10 currency this year.
A stronger yen reduces pressure on Japan to intervene and makes dollar-priced imports cheaper in yen terms. The move reflects shifting expectations for Fed tightening rather than a change in commodity supply.
bloomberg.comChikako MogiNov 10, 2022Not 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.
