
The Japanese yen gained against major peers as a sharp sell-off in US tech and chip shares sent investors toward safe havens. USD/JPY traded near 157.70, down about 0.47% on the day, while the US 10-year Treasury yield fell to 4.83%.
A stronger yen and weaker dollar reduce the local-currency cost of US commodity imports for Japan and shift currency-driven demand, with modest direct effects on feed grain and meal prices.
Not 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.