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The Japanese yen weakened against the dollar at the start of the trading week after Fed Chair Jerome Powell and other central bank chiefs spoke at the Jackson Hole symposium. Powell said the Fed is prepared to raise interest rates further if needed.
Stronger US rate expectations lift the dollar against the yen, which affects dollar-denominated feed and grain import costs for Japan and widens the rate gap that supports the dollar broadly.
asia.nikkei.comTOSHIHIRO SATO, KENTA SHINOZAKI, Nikkei staff writersAug 28, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
