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The dollar fell about 0.8% against the yen to 152.18 after the Bank of Japan took a less dovish tone than expected. The euro edged up 0.04% to $1.0859 as euro zone inflation accelerated more than expected in October.
Currency moves shift the relative cost of US and foreign commodity supplies and can influence export competitiveness for grains and meals, though the effect on feed prices is modest here.
reuters.comSaqib Ahmed, Laura MatthewsOct 31, 2024Not enough comparable past events yet for a historical read.
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.
After 388 past bullish macro events, EURUSD 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.
