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The yen strengthened after the Bank of Japan hinted at a shift in its policy stance, pushing the dollar lower. Traders also expect euro zone rates to fall to 3% by September, down from 3.4% expected two weeks earlier.
Falling inflation and a slowdown in major economies such as Germany drove the repricing.
A firmer yen and weaker dollar change the relative price of US exports to Japan and can shift flows in dollar-priced commodities. The effect on feed markets is small.
reuters.comHannah LangDec 7, 2023Not 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.
