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The dollar strengthened against the yen to its highest level in two weeks after the Bank of Japan kept interest rates unchanged and signaled it was in no hurry to raise them again. The move followed the BOJ's cautious stance on further hikes.
A BOJ pause supports a firmer dollar against the yen, a modest macro headwind for dollar-priced commodities, with little direct effect on feed supply or demand.
reuters.comChibuike Oguh, Linda PasquiniSep 20, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
