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An explainer examines why Japan had not yet intervened to support the yen. It notes that the Fed was close to cutting rates while the Bank of Japan planned gradual hikes, so the roughly 5 percentage point interest rate gap between dollar and yen should narrow over time.
A narrowing rate gap would support the yen and weigh on the dollar over time, which is a background currency factor for dollar-priced feed commodities rather than a direct supply shock.
reuters.comJul 11, 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.
