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Japan confirmed it spent $36.8 billion to support the yen in July, in line with expectations. The Bank of Japan raised its benchmark rate to around 0.25% the same day, as the yen had recently fallen to a 38-year low against the dollar.
Intervention combined with a rate hike signals that Japan will defend the yen, which can limit further dollar strength and affect the cost of dollar-denominated feed imports for Asian buyers.
cnbc.comSam MeredithAug 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.
