# Forex markets: Dollar hits more than 2-year high against yen

> The dollar rose to its highest level against the yen in nearly three years on October 11, 2021, reaching 113 yen per dollar. Traders expected the Federal Reserve to announce a tapering of its bond purchases despite soft US payrolls. Oil prices also rose on energy-crisis concerns.

- Date: 2021-10-11 · published 2021-10-11T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/44794-forex-markets-dollar-hits-more-than-2-year-high-against-yen
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of Fed tightening lift the dollar and pressure dollar-priced commodities, while a weaker yen raises Japan's import costs for feed and energy.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-22 | [U.S. dollar hits more than 2-year high on aggressive Fed hike outlook](https://feedsoft.ai/events/4950-u-s-dollar-hits-more-than-2-year-high-on-aggressive-fed-hike-outlook.md) | +2.5% | +2.0% |
| DXY | 2022-07-05 | [Euro Hits 20-Year Low Against Dollar as Markets Slide - The New York Times](https://feedsoft.ai/events/10287-euro-hits-20-year-low-against-dollar-as-markets-slide-the-new-york-times.md) | +1.5% | -0.1% |
| DXY | 2024-11-14 | [Dollar index hits 2-year high amid 'Trump trade' bets - MarketWatch](https://feedsoft.ai/events/11855-dollar-index-hits-2-year-high-amid-trump-trade-bets-marketwatch.md) | -0.1% | -0.0% |
| DXY | 2021-03-31 | [US dollar rises to one-year high against Japan's yen \| The Straits Times](https://feedsoft.ai/events/48355-us-dollar-rises-to-one-year-high-against-japan-s-yen-the-straits-times.md) | -0.9% | -2.0% |
| DXY | 2016-11-30 | [Dollar surges to 8-1/2-month high against yen on OPEC deal](https://feedsoft.ai/events/74079-dollar-surges-to-8-1-2-month-high-against-yen-on-opec-deal.md) | -0.6% | +1.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/10/11/forex-markets-dollar-japanese-yen-us-jobs-data-federal-reserve.html

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