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The yen whipsawed after Governor Kazuo Ueda unexpectedly altered yield curve control, with the currency swinging about 1% in each direction within an hour. The choppiness continued through the press conference even as the moves narrowed.
Sharp intraday currency swings add uncertainty to dollar-based pricing of imports and exports. The effect on feed commodity prices is likely limited and mainly comes through the dollar.
bloomberg.comYumi TesoJul 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.
