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Talk of further Bank of Japan rate rises and Federal Reserve cuts by September drove the yen up about 13% in a month. The move narrowed the yield gap and wiped out the slim gains from pure yen-dollar carry trades.
A narrower rate gap reduces the appeal of borrowing yen to fund dollar assets, which can pull liquidity out of risk markets. Feed-commodity price effects are indirect.
reuters.comVidya RanganathanAug 7, 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.
