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The yen gained as buyers returned on expectations of further Bank of Japan rate hikes and rising inflation. Reports that President Trump considered replacing Fed Chair Powell boosted safe-haven demand and weighed on the dollar.
USD/JPY fell to nearly a two-week low, and the dollar was at a three-year low.
Concerns over Fed independence and a weaker dollar tend to support dollar-denominated commodity prices. Yen strength reduces the local cost of US imports for Japanese buyers.
fxstreet.comHaresh MenghaniJun 26, 2025Not 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.
