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The Bank of Japan kept its policy settings unchanged at its April meeting, holding the policy-balance rate at -0.1% and the 10-year JGB yield target at about 0%. It raised its 2021 and 2022 GDP growth forecasts to 4% and 2.4%.
Analysts expect the yen to stay weak as new coronavirus restrictions spread across Japanese prefectures.
A persistently dovish BoJ and weak yen make Japanese feed and grain imports more expensive in local currency, which can support Japanese buyers' demand for dollar-priced feed. The effect on feed prices is indirect and small.
forex.caApr 27, 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.
