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The Japanese yen strengthened after minutes from the Bank of Japan's latest meeting showed some policymakers favour ending negative interest rates. Markets had focused on the April meeting, but MUFG says March is now in scope.
A policymaker cited improving wages as a reason conditions for policy change were being met.
Expected BoJ tightening lowers USD/JPY, which reduces the yen cost of dollar-priced feed imports for Japan. The effect on grain prices is indirect and modest.
poundsterlinglive.comGary HowesJan 31, 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.
