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The Japanese yen outperformed most major currencies on Tuesday after the BoJ's April policy decision. Speculative investors have held large bets against the yen, and some are now reducing them.
USD/JPY fell 1.1%, though it remains up about 5% for 2021.
Yen strength reflects position unwinding rather than a fundamental shift, so its effect on dollar-priced feed imports is limited. Traders expect further moves to depend on US yields.
poundsterlinglive.comJames SkinnerApr 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.
