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The yen has weakened more than 5% against the dollar since August 5, when it had jumped to a seven-month high. The reversal followed a mix of hawkish Bank of Japan signals, US earnings jitters and a weak jobs report.
Hedge funds are reportedly returning to the yen carry trade.
A weaker yen raises the dollar cost of Japanese purchases and can shift carry-trade positioning that spills into risk assets. The direct effect on feed grain and meal prices is limited.
bloomberg.comDavid FinnertySep 1, 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.
