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The Bank of Japan surprised markets by loosening its yield curve control, allowing 10-year JGB yields to move further from target. Japanese yields hit a nine-year high and the yen swung sharply against the dollar before recovering some gains.
A wider yen swing and higher global bond yields tighten financial conditions and raise funding costs. For feed buyers, a firmer yen can soften import costs for Japanese buyers, while the dollar and rate moves feed into commodity pricing.
reuters.comKevin BucklandJul 28, 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.
