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The yen weakened to a one-week low against the dollar after the Bank of Japan held rates at minus 0.10% for the 15th straight meeting. Japanese data showed June unemployment rising to 2.4% and industrial output falling 2.1%.
Markets turned to US income and spending data ahead of the Fed's policy meeting.
Currency moves of this kind are macro background for feed buyers, since a weaker yen and stronger dollar can affect US export competitiveness and dollar-denominated commodity prices. The impact on grain and feed prices is limited.
economies.comRami HaddadJul 31, 2018Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
