
The yen has weakened about 6% to 148.27 per dollar since April and underperformed major peers over the past three months. Strategists expect further losses as political risks rise after the LDP's defeat in the July 20 upper house election, including possible populist spending and a September LDP leadership contest.
Continued yen weakness and possible fiscal expansion in Japan keep import costs in yen elevated for feed buyers, but the move is largely financial and has limited direct effect on commodity supply.
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.