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Asian currencies firmed after minutes from the US Federal Reserve's May meeting showed policymakers favouring a gradual approach to rate hikes. The yuan reached two-month highs after state-owned banks sold dollars onshore.
The dollar weakened and US Treasury yields fell.
A weaker dollar and lower US yields support emerging-market currencies and can lift dollar-denominated commodity prices. The Fed signal on gradual tightening is a supportive backdrop for feed markets.
ft.lkMay 26, 2017After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% 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.
