
USD/JPY rose for a fifth straight day toward 158.80 as a hawkish Fed outlook and strong US data supported the dollar. The US 10-year yield reached about 5.16%, its highest since 2007, after the Fed's 25 basis point hike to 3.75%-4.00%.
A firmer dollar and higher US rates raise the cost of dollar-denominated commodity imports for non-US feed buyers and tend to pressure dollar-priced grain and meal prices lower.
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.
Not 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.