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The Australian dollar held near US$0.6648 after giving back its post-CPI gains, while reaching a 17-year high against the yen. Australian three-year bond futures fell to their lowest in seven months on rising rate-hike bets.
Swaps implied about a 42% chance of an August RBA hike.
Higher Australian rate expectations support the Aussie and raise funding costs for Australian agribusiness and farm borrowing. The move is driven by monetary policy and does not change the physical feed supply outlook.
businesstimes.com.sgJun 27, 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.
