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The euro rose 0.7% to $1.0560 after ECB board member Isabel Schnabel said rate cuts should be gradual. The yen rallied to its strongest week in three months on growing bets of a Bank of Japan hike in December, pushing USD/JPY through 151.50.
A softer dollar tends to support dollar-priced commodities, while a stronger yen reduces the yen cost of US feed imports for Japan.
brecorder.comReutersNov 28, 2024Not enough comparable past events yet for a historical read.
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.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), 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.
