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The dollar rallied against the yen on trade-deal optimism after the Bank of Japan cut growth forecasts on tariff concerns and held rates. USD/JPY rose 1.7% to 145.52, its largest daily gain since November 2024.
A sharp dollar rally against the yen is a macro move that raises Japanese dollar import costs; the link to feed prices is indirect and the magnitude is modest for grain markets.
reuters.comGertrude Chavez-DreyfussMay 1, 2025Not 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.
