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Reuters reports that the Bank of Japan's years of cheap cash and sub-zero rates turned the yen into a favored funding currency, sending large amounts of Japanese capital abroad. Citi strategists have set a target for the yen.
A stronger yen would unwind carry trades and could pressure dollar-priced commodities and feed margins for importers, with a modest effect on US export competitiveness.
reuters.comNaomi RovnickApr 27, 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.
