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Scotiabank said the yen weakened as US-Japan 10-year yield spreads widened by about 12bps to roughly 230bps in the dollar's favour. Stronger equity markets also reduced demand for the yen as a safe haven.
The BoJ was expected to keep its ultra-loose policy at its meeting that week.
A weaker yen against the dollar makes Japanese-linked trade and feed-import costs in dollar terms move, but the impact on grain and feed prices is indirect. The move reflects currency and rate dynamics rather than any change in feed supply or demand.
octaafrica.netApr 25, 2017Not 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.
