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The dollar rose sharply against major currencies after Federal Reserve Chair Jerome Powell showed little concern about the recent jump in Treasury yields. The 10-year yield climbed about 4% toward a one-year high, and the Dow fell more than 300 points.
The 30-year mortgage rate rose above 3% for the first time since July 2020.
Higher yields and a stronger dollar raise borrowing costs and weigh on risk assets and dollar-priced commodities. A tighter-looking Fed path would strengthen the dollar, which tends to pressure feed grain and meal prices.
investing.comMar 4, 2021After 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.
