
ING forecasts the Bank of Japan will raise rates again in December 2026 and again in March or April 2027, but expects the yen to stay weak near the top of a 155-160 range before a turn in April-June 2027. USD/JPY ended Friday around 157.58 after the BoJ held rates at 1.25% with a strengthened inflation assessment.
A weak yen and expected BoJ tightening shape the currency backdrop for Japanese import costs and dollar-denominated commodity purchases, with a stronger dollar tending to pressure dollar-priced feed commodities.
Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.