# 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.

- Date: 2024-11-27 · published 2024-11-27T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/27642-when-the-bond-market-turns-usd-jpy-gets-crushed-5-reasons-behind-the-drop
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## 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.

## Read by commodity

- DXY: bearish ▼
- USDJPY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-02 | [US asset markets: What Fed cuts mean for US Treasuries and the dollar \| articles \| ING THINK](https://feedsoft.ai/events/7151-us-asset-markets-what-fed-cuts-mean-for-us-treasuries-and-the-dollar-articles.md) | -0.8% | +4.0% |
| DXY | 2022-12-14 | [EUR/USD Turns to the Fed & the ECB, After Tuesday’s Jump on Softer US CPI Inflation \| FXCM Markets](https://feedsoft.ai/events/38442-eur-usd-turns-to-the-fed-and-the-ecb-after-tuesday-s-jump-on-softer-us-cpi.md) | +0.2% | -2.0% |
| DXY | 2025-10-01 | [After The Rate Cut: Investing Beyond U.S. Markets](https://feedsoft.ai/events/22765-after-the-rate-cut-investing-beyond-u-s-markets.md) | +0.3% | +0.3% |
| DXY | 2024-07-31 | [Currency markets: Banks get bullish on the British pound](https://feedsoft.ai/events/29539-currency-markets-banks-get-bullish-on-the-british-pound.md) | -0.5% | -1.9% |
| DXY | 2017-01-31 | [Trump Trouble: USD/JPY remains on the back foot - Forex Crunch](https://feedsoft.ai/events/73229-trump-trouble-usd-jpy-remains-on-the-back-foot-forex-crunch.md) | -0.6% | -0.6% |

## Sources

- investinglive.com: https://investinglive.com/news/when-the-bond-market-turns-usdjpy-gets-crushed-5-reasons-behind-the-drop-20241127/

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