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The Japanese yen rallied about 0.9% against the dollar on May 23, breaking through 110 per dollar, and gained 1.5% against the euro. The move followed Trump's comments that he was unhappy with US-China trade talks and that the planned US-North Korea summit might not proceed.
Emerging-market selloffs added to demand for haven currencies.
Safe-haven demand for the yen strengthens it against the dollar, which lowers USD/JPY and makes dollar-priced Japanese imports cheaper. For feed buyers the effect is indirect, but a stronger yen tends to weigh on dollar-denominated commodity costs in Japan.
marketwatch.comAnneken TappeMay 23, 2018Not enough comparable past events yet for a historical read.
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.
