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The Japanese yen fell to a 34-year low, driven by the widening gap between US and Japanese bond yields. The Bank of Japan's recent small rate hike did little to change the trend, and markets are watching for intervention.
A weaker yen raises the dollar cost of Japanese purchases of US feed and ingredients, which can soften demand at the margin. A possible intervention could create sharp currency swings that affect import pricing.
bloomberg.comMasaki Kondo, Erica Yokoyama, Yumi TesoMar 27, 2024
cnbc.comReutersMar 27, 2024
reuters.comKaren Brettell, Harry RobertsonMar 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.
