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The yen fell as much as 0.8% to 132.96 per dollar, its lowest since April 2002, as the yield gap between Japan and the US widened with US Treasury yields above 3%. The move also weakened the yen against the euro and Australian dollar, adding pressure on the Japanese government.
A wider rate gap draws capital to dollar assets and lifts the cost of dollar-priced feed imports into Japan, supporting higher local feed costs.
bloomberg.comChikako MogiJun 6, 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.
