Loading…
The yen fell 1.7% to 151.60 per dollar, its weakest level since October last year, after the Bank of Japan changed the 1% cap on 10-year bond yields to a reference point. The move was the yen's biggest daily fall since April and came close to the level where authorities last intervened.
The move reflects markets' view that Japanese policy remains behind the curve, which keeps import costs for Japanese feed buyers elevated and raises the risk of intervention that could cause sharp currency swings.
ft.comMary McDougall in LondonOct 31, 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.
