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After the Bank of Japan scrapped the 1% ceiling on 10-year government bond yields, the yen fell to a new one-year low against the dollar and a 15-year low against the euro. The story compares this with pressure on the yuan.
A sharp yen decline strengthens the dollar against major Asian currencies, which can lower the local-currency cost of U.S. feed imports for Japan while pressuring import-dependent Asian buyers' margins.
reuters.comJamie McGeeverOct 31, 2023Not enough comparable past events yet for a historical read.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
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.
