# UPDATE 1-Yellen sees yen's depreciation, says intervention only warranted in 'rare' cases

> US Treasury Secretary Yellen acknowledged the yen's substantial depreciation but said currency intervention was warranted only in rare and exceptional circumstances. She met Japanese Finance Minister Suzuki and BoJ Governor Kuroda, and the two sides pledged to consult closely on FX. The dollar was around 136.89 yen after touching a 24-year high of 137.75.

- Date: 2022-07-12 · published 2022-07-12T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/40735-update-1-yellen-sees-yen-s-depreciation-says-intervention-only-warranted-in
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Official signals that intervention is unlikely keep the dollar-yen trend intact, which sustains a strong-dollar backdrop for dollar-priced commodities. The effect on feed prices is limited.

## Read by commodity

- USDJPY: neutral

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/1-yellen-sees-yens-depreciation-103551207.html

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