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Japanese ruling party lawmaker Kozo Yamamoto called for a 26-trillion-yen ($239 billion) extra budget and urged the Bank of Japan to weaken the yen. He argued Japan was sliding back toward deflation and that the BoJ was stealth tapering asset purchases.
USD/JPY stepped back from an intraday high of 108.82 to 108.75 after the remarks.
Calls for fiscal stimulus and a weaker yen would reduce the yen cost of imported feed grains and meals if they became policy. The effect is still only a proposal, so the price impact is small for now.
octaafrica.netMay 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.
