The US dollar touched a 19-month high after stronger-than-expected US inflation data raised expectations of another Federal Reserve rate hike next month. The yen traded near 160 per dollar, a level that has prompted intervention before.
A firmer dollar pressures dollar-denominated commodity prices and raises import costs in weaker-currency feed markets, while yen weakness keeps Japanese feed buying costs elevated.
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.