
USD/JPY rallied toward 150.00 after Governor Ueda cooled hopes of an immediate rate hike, leaving the timing of the next move unclear. The US dollar index also rose as investors awaited the US PCE inflation release.
Yen weakness and a stronger dollar lower the dollar-equivalent cost of Japanese purchases of US commodities, and can slightly reduce demand for US feed ingredients priced in dollars.
Not enough comparable past events yet for a historical read.
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.