
The yen weakened toward 160 per dollar as bets on another US rate hike lifted the dollar, while Japan's 10-year bond yield approached 2.9%. Japanese officials warned against one-sided moves and said they would coordinate with the US Treasury, while declining to comment on intervention.
A weak yen and rising Japanese funding costs can reduce Japan's purchasing power for imported feed and energy, potentially lowering demand for US and Brazilian feed ingredients. Rising energy import costs also pressure feed producers.
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.