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Japan's weak yen, down roughly 10% against the dollar this year, is raising political pressure on the Bank of Japan to hike rates. Households are hurt by higher import costs, and Japan's first-quarter GDP shrank more than expected.
Exports also slumped as manufacturers lost the benefit of the weaker currency.
A weak yen raises the yen cost of imported feed grains and meal, squeezing Japanese livestock and feed buyers. Pressure for BOJ tightening could support the yen over time.
reuters.comLeika KiharaMay 17, 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.
