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The yen fell to its weakest level since 1998, dropping as much as 0.5% to 139.68 per dollar, close to the 140 psychological level. Japanese government officials issued warnings, and the widening US-Japan yield gap added pressure on the currency.
A weaker yen raises the cost of dollar-priced feed imports for Japan and other yen-linked buyers, and a possible intervention near 140 could cause sharp currency swings.
bloomberg.comChikako Mogi, Emi UrabeAug 31, 2022Not 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.
