
USD/JPY traded near 144.20 as the yen gained after Japan's May industrial production rose 0.5% month-over-month, though it missed forecasts. Japan's trade negotiator said he would keep working toward a US agreement.
Growing expectations of Fed rate cuts from September weighed on the dollar.
Expected Fed cuts weaken the dollar, which tends to support dollar-priced commodities and lowers the yen cost of US imports for Japan. Trade-deal progress could influence tariff-linked export flows.
Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.