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A suspected Japanese foreign-exchange intervention failed to hold the yen, which jumped 4 yen to 145.28 per dollar before slipping back to around 148.80. The yen's slide is raising import bills and challenging the Bank of Japan's ultra-low rate policy.
Markets remain focused on the rate gap with the Federal Reserve.
A persistently weak yen makes dollar-priced feed and grain imports more expensive for Japan. Intervention has only short-lived effects on that cost.
reuters.comTetsushi Kajimoto, Yoshifumi TakemotoOct 24, 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.
