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A weak yen is now hurting Japanese households and policymakers, as it raises import costs and eats into purchasing power. The dollar hit 115.525 yen, a level not seen since January 2017, as expectations of higher US rates lifted the greenback.
Citi's economist said the negative effects may be larger than before because import penetration has risen.
Japan is a major importer of feed grains and meal, so a weaker yen raises landed costs for Japanese feed buyers even when US dollar prices are flat.
reuters.comTetsushi KajimotoNov 26, 2021Not 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.
