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The dollar hit an 11-month high against the Japanese yen on Monday and a nearly 10-month high against a basket of currencies. The move followed the Federal Reserve's signal that it could raise rates further and hold them higher for longer.
A weaker yen and firmer dollar raise the cost of imported feed inputs for Japan and push Asian buyers toward cheaper supplies, a modest bearish pressure on US feed prices.
reuters.comKaren BrettellSep 25, 2023Not 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.
