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US Treasury Secretary Yellen acknowledged the yen's substantial depreciation but said currency intervention was warranted only in rare and exceptional circumstances. She met Japanese Finance Minister Suzuki and BoJ Governor Kuroda, and the two sides pledged to consult closely on FX.
The dollar was around 136.89 yen after touching a 24-year high of 137.75.
Official signals that intervention is unlikely keep the dollar-yen trend intact, which sustains a strong-dollar backdrop for dollar-priced commodities. The effect on feed prices is limited.
finance.yahoo.comAndrea ShalalJul 12, 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.
