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USD/JPY traded near 109.92 in Asian trade as lower US Treasury yields weighed on the dollar. The IMF cut Japan's 2021 GDP growth forecast to 2.8% and the BOJ summary of opinions flagged COVID risks to consumption.
A weaker dollar and yen-supportive yield moves affect the currency backdrop for dollar-priced feed imports, but the pair's routine intraday moves have little direct effect on feed grain or meal prices.
octaafrica.netJul 29, 2021Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
