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The yen briefly rallied to 133.37 per dollar after a Tokyo statement but gave back most of the gain after a stronger-than-expected US inflation reading. The yen was last quoted at 134.15, and Japan is moving closer to intervention.
Possible intervention could cause a sharp yen rally, lowering the local cost of dollar-priced feed imports, but the rate gap keeps underlying pressure toward a weaker yen.
reuters.comTetsushi Kajimoto, Leika KiharaJun 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.
