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Some Bank of Japan policymakers signaled growing confidence in an imminent rate increase, which pushed the yen higher. The yen had weakened in recent weeks as U.S. Treasury yields rose, even though the Federal Reserve had cut rates by 100 basis points since September.
Expectations of BOJ tightening narrow the yen's yield gap with the dollar, which tends to pressure USD/JPY lower. For feed buyers the effect is indirect, through the cost of imported inputs priced in dollars.
reuters.comKaren BrettellDec 27, 2024Not 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.
