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The yen jumped 1.3% to 128.34 per dollar after a two-month slide that took it to 131.35, its weakest in about two decades. Strategists say slowing China growth and expected damage from Fed rate hikes are reviving the yen's haven appeal.
A firmer yen lowers the local cost of dollar-priced feed imports for Japan, though the effect on grain and meal prices is marginal.
japantimes.co.jpEmily Graffeo, Hiroko Komiya, Chikako MogiMay 13, 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.
