# Yen rallies after Federal Reserve signals rate cuts in 2024 - Nikkei Asia

> The yen strengthened to as much as 142.6 per dollar after the Fed held rates at a 22-year high but signaled up to 75 basis points of cuts in 2024. The move was the yen's biggest since a rally the prior week that followed BOJ Governor Ueda's comments on ending negative rates.

- Date: 2023-12-13 · published 2023-12-13T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/8716-yen-rallies-after-federal-reserve-signals-rate-cuts-in-2024-nikkei-asia
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger yen and weaker dollar reflect lower US rate expectations, which can support dollar-priced commodities and slightly ease Japanese import costs for feed.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2023-12-14 | 1 | -1.3% | -3.8 | The yen rallied sharply against the dollar after the Fed's signal of cuts, adding to broad dollar weakness. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-03-20 | [Gold prices jump higher as Federal Reserve signals three rate cuts this year \| Kitco News](https://feedsoft.ai/events/31107-gold-prices-jump-higher-as-federal-reserve-signals-three-rate-cuts-this-year.md) | +0.1% | +1.8% |
| DXY | 2023-02-01 | [Federal Reserve raises key interest rate 0.25%, signals more hikes likely](https://feedsoft.ai/events/37236-federal-reserve-raises-key-interest-rate-0-25-signals-more-hikes-likely.md) | +1.1% | +1.4% |
| DXY | 2023-12-08 | [Dow surges to new record as Fed signals three rate cuts in 2024 \| CNN Business](https://feedsoft.ai/events/32472-dow-surges-to-new-record-as-fed-signals-three-rate-cuts-in-2024-cnn-business.md) | -0.9% | -1.1% |
| DXY | 2023-12-07 | [MIDF Research forecasts ringgit to strengthen in 2024 amid anticipated Federal Reserve rate cuts](https://feedsoft.ai/events/32993-midf-research-forecasts-ringgit-to-strengthen-in-2024-amid-anticipated-federal.md) | +0.5% | -1.0% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |

## Sources

- asia.nikkei.com: https://asia.nikkei.com/business/markets/currencies/yen-rallies-after-federal-reserve-signals-rate-cuts-in-2024

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