# Five factors why US yields aren’t driving USD - Nomura — Octa

> Nomura analysts listed reasons why US bond yields are not currently driving the dollar and said they remain comfortable holding a bearish dollar view. They argued the dollar has already rallied too much for a Fed hiking cycle and that the euro is now more sensitive to euro bond yields after ECB QE reductions.

- Date: 2018-01-23 · published 2018-01-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/11864-five-factors-why-us-yields-aren-t-driving-usd-nomura-octa
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weaker dollar view supports dollar-priced commodities and can favor import demand from currencies that strengthen against the dollar. This is a forecast rather than a new price shock.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-30 | [US Dollar: Real yields drive correction risk – ING — Octa](https://feedsoft.ai/events/18551-us-dollar-real-yields-drive-correction-risk-ing-octa.md) | -1.2% | -1.9% |
| DXY | 2024-05-31 | [AUD/USD recovers as weaker US GDP sparks US yields drop — Octa](https://feedsoft.ai/events/30529-aud-usd-recovers-as-weaker-us-gdp-sparks-us-yields-drop-octa.md) | +0.3% | +1.8% |
| DXY | 2019-10-02 | [Dollar falls vs yen, euro, tracking US stocks, yields](https://feedsoft.ai/events/56812-dollar-falls-vs-yen-euro-tracking-us-stocks-yields.md) | -0.2% | -1.5% |
| DXY | 2020-12-11 | [USD: FOMC action to keep dollar on weaker footing – MUFG — Octa](https://feedsoft.ai/events/49846-usd-fomc-action-to-keep-dollar-on-weaker-footing-mufg-octa.md) | -0.7% | -0.4% |
| DXY | 2018-05-02 | [US Dollar turns negative post-FOMC, around 92.40 — Octa](https://feedsoft.ai/events/65211-us-dollar-turns-negative-post-fomc-around-92-40-octa.md) | +1.2% | +1.8% |
| EURUSD | 2018-02-27 | [Making sense of the weak USD – Westpac — Octa](https://feedsoft.ai/events/66698-making-sense-of-the-weak-usd-westpac-octa.md) | +0.3% | +1.2% |
| EURUSD | 2017-03-31 | [EUR: ECB normalisation sequence matters - Nomura — Octa](https://feedsoft.ai/events/72198-eur-ecb-normalisation-sequence-matters-nomura-octa.md) | -0.7% | +1.3% |
| EURUSD | 2023-04-17 | [The multiple factors underpinning the renewed strength of the euro against the dollar](https://feedsoft.ai/events/36619-the-multiple-factors-underpinning-the-renewed-strength-of-the-euro-against-the.md) | -0.1% | -1.1% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/532869/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.