◂ Event Timeline

Nov 27, 2024MACROUS

When the bond market turns, USD/JPY gets crushed. 5 reasons behind the drop

USD/JPY fell about 260 pips on 27 November to 150.46 from a mid-month high of 156.76, after the 10-year Treasury yield dropped from 4.50% to 4.25%. Traders also cited the nomination of Scott Bessent as Treasury secretary and tariff threats that appeared less serious than feared.

WHY IT MATTERS

Lower US yields and a softer dollar are weighing on the yen-dollar pair, which can reduce dollar-based commodity prices in the near term and ease tariff-related fears for feed trade.

AFFECTSUSDJPY▼DXY▼

SOURCE
investinglive.comAdam ButtonNov 27, 2024

Price reaction & history

USDJPY▼bearish

Not enough comparable past events yet for a historical read.

DXY▼bearishSO FAR1d -0.5%5d -0.5%20d +0.7%

After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

Mar 2, 2020US asset markets: What Fed cuts mean for US Treasuries and the dollar | articles | ING THINK-0.8%
Dec 14, 2022EUR/USD Turns to the Fed & the ECB, After Tuesday’s Jump on Softer US CPI Inflation | FXCM Markets+0.2%
Oct 1, 2025After The Rate Cut: Investing Beyond U.S. Markets+0.3%
Jul 31, 2024Currency markets: Banks get bullish on the British pound-0.5%
May 29, 2026Euro-Dollar: Why Markets Think The ECB Will Hike Before The Fed+0.3%

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.

USDJPY · GP ▸

——— · ·

DXY · GP ▸

——— · ·

Loading…