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The Bank of Japan's policy shift left the yen volatile, strengthening by as much as 1.2% against the dollar before weakening and settling near 139 per dollar. Markets are still assessing how the opaque adjustment to yield curve control will play out.
Currency volatility around a major central bank move can shift dollar-denominated commodity prices and the cost of imports for Asian feed buyers. The net direction is unclear for now.
reuters.comNaomi Rovnick, Alun John, Ankur BanerjeeJul 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.
