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The yen weakened about 1.7 percent to 117.20 per dollar after the Federal Reserve raised its benchmark rate by 25 basis points to 0.50%-0.75%. The FOMC also raised its projection to three rate hikes in 2017 from two.
A stronger dollar and higher US rates make dollar-priced commodities more expensive for buyers using other currencies and can weigh on US export demand. The move is largely expected and the direct effect on feed prices is modest.
businessinsider.comElena HolodnyJan 1, 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.
