
The Aussie and kiwi hit multi-week highs against the US dollar after Japan's yen intervention weighed on the greenback. AUD/USD touched about 0.7033 and NZD/USD about 0.5882, while AUD/JPY fell as much as 2.7%.
Markets have largely priced out a near-term RBA hike.
The moves are currency-driven and have limited direct effect on grain or oilseed supply. A softer dollar mildly supports dollar-priced commodities.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.