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USD/JPY had risen more than 3% from the prior week's lows, lifted by risk-on sentiment after the first round of the French election and by Trump's tax proposals. The BoJ kept its monetary policy unchanged as expected, and the yen was broadly unchanged on the decision.
The pair was trading near 111.4 and held its 200-day moving average.
Risk-on flows and policy expectations are driving the yen lower against the dollar. This is routine currency price action with no direct effect on feed commodity supply or demand.
exchangerates.org.ukJames ElliotApr 27, 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.
