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The Bank of Japan kept ultra-low interest rates and its 0.5% cap on the 10-year bond yield, defying expectations it would phase out stimulus. The yen weakened after the announcement, with the dollar rising as much as 2.7% before trimming gains to around 129.38 yen.
Yen weakness against the dollar makes US commodities relatively more expensive for Japanese buyers while supporting dollar-denominated export pricing; the effect on feed grain prices is indirect.
reuters.comJan 18, 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.
