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USD/JPY reached a fresh monthly high of 104.462 in early trade on Thursday. US 10-year yields rose more than 4 basis points to nearly 1.06%, widening the US/Japan rate differential.
Risk appetite also recovered after Wednesday's losses in US equities.
A wider yield gap favours flows out of yen and into dollars, which weakens the yen and raises the yen cost of dollar-priced imports such as feed grains and meal. A stronger dollar also tends to weigh on dollar-denominated commodity prices.
octaafrica.netJan 28, 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.
