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The Japanese yen weakened against the dollar as U.S. stocks recovered after Fed Chair Jerome Powell said inflation concerns were overblown and that accommodative policy would remain for some time. USD/JPY traded near 105.49 early Wednesday.
A firmer dollar against the yen reflects FX and rate-driven moves rather than grain fundamentals; for feed buyers it has only indirect influence on Japanese import costs for US feed grains and meal.
fxempire.comJames HyerczykFeb 24, 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.
