Richmond Fed President Thomas Barkin and Cleveland Fed President Beth Hammack expressed support for gradual, repeated rate increases. The dollar-yen rate fell as low as 157.69 amid risk-averse yen buying before stabilizing near 157.92; expectations of a December Fed hike eased from 80% to 70% after a technology-stock selloff.
A stronger dollar can raise the cost of dollar-priced feed imports for buyers using other currencies, while a stronger yen has the opposite effect for Japan. The reported currency movements do not change physical feed supply or demand.
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.
Not 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.