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Lloyds Bank says USD/JPY has traded in a 111 to 119 range this year and moves closely with US Treasury yields. It expects short-term scope for a reversal but forecasts yen appreciation toward 108 by end-2017, after the Fed's March hike and the BoJ's yield curve control.
A stronger yen over the medium term would lower import costs for Japanese feed buyers, while rate divergence shapes global currency flows for commodities.
octaafrica.netMar 22, 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.
