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Japan appointed a new top foreign exchange diplomat on Friday as the yen fell to a 38-year low against the dollar. The government faces pressure as the weak currency increases import costs and adds to inflation.
The policy response signals possible intervention, which could strengthen the yen and ease dollar-priced import costs for Japanese feed buyers. Until then, the weak yen keeps Japanese import costs elevated.
reuters.comMakiko Yamazaki, Satoshi SugiyamaJul 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.
