# Yen rallies after Japan intervenes with first support since 1998

> The yen rallied sharply on Sept 22 after Japanese monetary authorities intervened in FX markets for the first time since 1998. The dollar fell to a low of 140.31 yen from a 24-year peak near 145.9.

- Date: 2022-09-22 · published 2022-09-22T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/39807-yen-rallies-after-japan-intervenes-with-first-support-since-1998
- 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 stronger yen eases the cost of dollar-priced imports such as feed ingredients for Japan, but a weaker dollar generally supports dollar-denominated grain and oilseed prices. The effect on feed prices is modest and may fade if intervention fails.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-31 | [US Treasury intervenes to support yen after Japan steps in, FT reports](https://feedsoft.ai/events/18582-us-treasury-intervenes-to-support-yen-after-japan-steps-in-ft-reports.md) | -0.1% | -1.1% |
| DXY | 2022-09-23 | [Race to rein in strong dollar is on after Japan intervenes](https://feedsoft.ai/events/39758-race-to-rein-in-strong-dollar-is-on-after-japan-intervenes.md) | +1.1% | +1.2% |
| DXY | 2026-05-01 | [Dollar tumbles after Japanese intervention boosts yen](https://feedsoft.ai/events/19967-dollar-tumbles-after-japanese-intervention-boosts-yen.md) | -0.6% | +0.2% |
| DXY | 2023-12-13 | [Yen rallies after Federal Reserve signals rate cuts in 2024 - Nikkei Asia](https://feedsoft.ai/events/8716-yen-rallies-after-federal-reserve-signals-rate-cuts-in-2024-nikkei-asia.md) | -1.0% | -0.7% |
| DXY | 2023-11-01 | [Yen rises after Japan ramps up intervention warning; US data weighs on dollar By Reuters](https://feedsoft.ai/events/33398-yen-rises-after-japan-ramps-up-intervention-warning-us-data-weighs-on-dollar-by.md) | -1.4% | -2.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/dollar-powers-new-two-decade-high-fed-outlook-russia-jitters-2022-09-22/

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