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The yen strengthened in the week to March 3 as a safe haven during the coronavirus equity sell-off. Much of the move reflected unwinding of yen-funded positions in US equities rather than confidence in Japan's economy.
The article warns that supply chain disruption and lower tourism will hit Japan's economy hard.
Currency moves from position unwinding are short-lived and do not signal stronger Japanese demand for imports. For feed buyers, the story is about the yen and not about the underlying demand for feed.
scmp.comNeal KimberleyMar 3, 2020Not 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.
