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Tokyo core consumer prices rose 2.2% year on year in November, up from 1.8%, mainly as energy subsidies wound down, and overall inflation reached 2.6%. The data lifted expectations of a December Bank of Japan rate hike, and the yen strengthened from 151.34 to around 150.01 per dollar.
A firmer yen against a softer dollar lowers USD/JPY and can ease dollar-denominated import costs for Japan, while a weaker dollar can support US-priced feed commodities.
japantimes.co.jpToru FujiokaNov 29, 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.
