# Dollar hits 20-yr high as yen tumbles on dovish Bank of Japan

> The dollar hit a 20-year high against the yen after the Bank of Japan reaffirmed its dovish policy. The euro fell below $1.05 as investors worried about Russia cutting gas supplies to parts of Europe over ruble payment demands.

- Date: 2022-04-28 · published 2022-04-28T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8288-dollar-hits-20-yr-high-as-yen-tumbles-on-dovish-bank-of-japan
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weak yen raises Japan's import costs for feed and grain, while a stronger dollar makes dollar-priced commodities more expensive for non-US buyers. Both effects put downward pressure on demand from importers in those currencies.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- USDJPY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2022-04-28 | 5 | +2.5% | 4.3 | Dollar hit a 20-year high against the yen after the dovish BOJ, and the euro fell below $1.05, both boosting the broad dollar index on April 28. |
| EURUSD | 2022-04-28 | 5 | -3.1% | -3.9 | Dollar strength spread across currencies and the euro broke below $1.05 on Russian gas worries, contributing to the final leg of the drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-05-05 | [Dollar index hits 20-year high, sterling tumbles on dovish BoE](https://feedsoft.ai/events/8318-dollar-index-hits-20-year-high-sterling-tumbles-on-dovish-boe.md) | +0.7% | -1.2% |
| DXY | 2024-11-13 | [Dollar hits one-year high on Trump trades](https://feedsoft.ai/events/7556-dollar-hits-one-year-high-on-trump-trades.md) | -0.3% | +0.1% |
| 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 | 2022-04-25 | [U.S. dollar rises to two-year high; yuan tumbles \| Reuters](https://feedsoft.ai/events/4945-u-s-dollar-rises-to-two-year-high-yuan-tumbles-reuters.md) | +1.2% | +1.1% |
| DXY | 2021-11-16 | [Asian Open: USD/JPY Hits a 3-Year High Ahead of Japan’s Trade Data](https://feedsoft.ai/events/44281-asian-open-usd-jpy-hits-a-3-year-high-ahead-of-japan-s-trade-data.md) | +0.9% | +1.4% |
| EURUSD | 2024-11-13 | [Dollar hits one-year high on Trump trades](https://feedsoft.ai/events/7556-dollar-hits-one-year-high-on-trump-trades.md) | -0.2% | -0.8% |
| EURUSD | 2016-11-14 | [Dollar hits 13-1/2 year high, U.S. bond yields gain on Trump stimulus bets](https://feedsoft.ai/events/8328-dollar-hits-13-1-2-year-high-u-s-bond-yields-gain-on-trump-stimulus-bets.md) | -2.6% | -2.5% |
| EURUSD | 2024-06-12 | [Euro's reserve currency role tumbles at expense of dollar, yen, ECB says](https://feedsoft.ai/events/29981-euro-s-reserve-currency-role-tumbles-at-expense-of-dollar-yen-ecb-says.md) | +0.1% | +1.3% |

## Sources

- reuters.com: https://www.reuters.com/business/finance/dollar-nears-two-decade-peaks-problems-plague-euro-yen-2022-04-28/

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