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The Nikkei share average slumped 2.5% after the Bank of Japan changed its yield curve policy in a surprise move. The dollar fell as much as 3.1% to a four-month low of 132.68 yen.
The 10-year JGB yield briefly spiked to 0.460%, near the BOJ's newly set implicit cap and the highest since 2015.
The sharp yen move and equity sell-off change the cost of dollar-denominated commodity imports for Japan and the risk appetite that drives commodity funds. The effect on feed prices is indirect but could persist.
cnn.comReutersDec 20, 2022
reuters.comLeika KiharaDec 19, 2022Not 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.
