Loading…
The yen jumped to a four-month high against the dollar on December 20, 2022, on pace for its biggest one-day gain in 24 years. The Bank of Japan surprised markets by widening the band around its 10-year yield target to 50 basis points either side of zero, from 25.
Short-term rates stayed at -0.1%.
A stronger yen cuts the yen cost of dollar-priced imports and reduces the yen value of US feed-ingredient exports to Japan. The wider yield band also signals tighter financial conditions that could pressure global risk assets.
reuters.comSaqib AhmedDec 20, 2022reuters.comSaqib AhmedDec 21, 2022Not enough comparable past events yet for a historical read.
Not 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.
