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The yen rose to a six-month high against the dollar, reaching 129.79 per dollar, as bets grew that Japan would tighten policy further after raising its bond-yield cap in December. Thin liquidity during the new-year holidays amplified the move.
A stronger yen lowers the dollar cost of yen-based buyers' imports and reflects shifting rate expectations; for feed markets the effect on dollar-priced grain and meal is minor.
bloomberg.comMarcus Wong, Karl Lester YapJan 3, 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.
