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The yen surged to a four-month peak against the dollar on December 20, 2022, after the Bank of Japan surprised markets by reviewing its yield curve control policy. The central bank widened the trading band on the 10-year JGB yield to 50 basis points either side of zero, from 25.
Short-term rates were left at minus 0.1%.
A sharp yen gain and possible capital repatriation from Japan could push up global borrowing costs and pressure asset prices. This raises financing costs for grain and feed trade flows priced in dollars.
straitstimes.comDec 20, 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.
