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The yen rose to a two-week high of 148.81 per dollar on Monday after a Nikkei report said the Bank of Japan was considering letting the 10-year bond yield rise above 1%. The Bank of Japan began a two-day policy meeting that day, and surging global rates were adding pressure to change its yield control policy.
Expectations of a looser yield cap moved the yen, and the outcome of the meeting affects currency-driven import costs for Asian feed buyers.
reuters.comGertrude Chavez-DreyfussOct 30, 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.
