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Downward pressure on the yen is growing, with the currency touching 115 per dollar, a four-year low. Nikkei calculates the actual exchange rate sits 9.6 yen below its theoretical value, based on Japan's economic strength relative to other countries.
Selling continues even though real interest rates are positive.
The persistent gap between the actual and theoretical yen rate suggests continued currency-driven import cost pressure for Japanese feed buyers.
asia.nikkei.comTAKAKO GAKUTO, KAZUYA MANABE, Nikkei staff writersNov 23, 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.
