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The yen rose after Prime Minister Takaichi warned of 'highly abnormal' market moves, following signs the US could join Japan in defending the yen. Japan's Nikkei 225 closed 1.8% lower and most bonds gained.
Possible joint US-Japan intervention raises dollar downside risk, which can support dollar-priced commodities and alter export competitiveness.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.