
The dollar mixed performance reflected markets reassessing Fed policy after stronger April inflation data. The 2-year Treasury yield hit new highs, and overnight index swaps fully priced a hike by December.
Analysts said the US rates market has room to move higher.
Higher short-term US yields support the dollar, which can weigh on dollar-priced feed commodities and raise costs for importers in weaker currencies.
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.