The dollar held near 19-month highs and was set for its biggest weekly rise in two months as bets on a larger Fed rate hike lifted US yields. The yen hovered around 160 per dollar, and Tokyo warned it would respond to excessive moves, while the euro hit its lowest against the dollar since April 2025.
Dollar strength and a weak yen can make US feed ingredients pricier for importers in Asia and Europe, potentially dampening demand, while a weaker euro raises the cost of EU-sourced feed purchases.
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.