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The yen spiked almost 4% to 140.31 per dollar from 145.81 within about 40 minutes after Japan intervened in FX markets. The move followed a hawkish Federal Reserve decision that roiled bond and stock markets.
The sharp yen rally reflects intervention pressure on the dollar, which can ease dollar-priced feed import costs for Japan. The effect on global feed prices is limited.
reuters.comHerbert LashSep 22, 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.
