# Dollar extends losses; yen hits new highs after Abe resignation

> The dollar fell against a basket of currencies after the Fed's new framework signaled rates would stay low. The yen strengthened sharply after Japanese Prime Minister Shinzo Abe announced his resignation over health concerns, with the dollar down about 1% against the yen at 105.45.

- Date: 2020-08-28 · published 2020-08-28T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/51845-dollar-extends-losses-yen-hits-new-highs-after-abe-resignation
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Dollar weakness and low US rates support commodity prices in dollar terms, while yen moves affect Japanese feed and protein import costs and sentiment on Japanese demand.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-06-20 | [Dollar extends losses on Fed rate cut bets](https://feedsoft.ai/events/7441-dollar-extends-losses-on-fed-rate-cut-bets.md) | -1.1% | -0.8% |
| DXY | 2026-07-31 | [US Dollar: Post-Fed losses extend as positioning unwinds – ING](https://feedsoft.ai/events/8421-us-dollar-post-fed-losses-extend-as-positioning-unwinds-ing.md) | -0.1% | -1.1% |
| DXY | 2025-04-03 | [Dollar reaches new high against dong - VnExpress International](https://feedsoft.ai/events/25425-dollar-reaches-new-high-against-dong-vnexpress-international.md) | +0.2% | -3.0% |
| DXY | 2022-11-11 | [U.S. Dollar Extends Tumble After Biggest Daily Loss Since 2009](https://feedsoft.ai/events/7565-u-s-dollar-extends-tumble-after-biggest-daily-loss-since-2009.md) | -0.7% | -1.6% |
| DXY | 2019-06-21 | [Dollar extends losses to 2-week low as US bond yields fall](https://feedsoft.ai/events/7440-dollar-extends-losses-to-2-week-low-as-us-bond-yields-fall.md) | -0.1% | +0.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/08/28/forex-markets-federal-reserve-dollar-in-focus.html

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