# US dollar, yields look set to close the gap with commodities

> The US dollar rallied on Friday after another hot US inflation reading, and the 2-year Treasury yield neared a break above 2%. Fed funds futures priced a hold at this week's meeting at about 97.5% and showed rate cuts pushed further out.

- Date: 2024-04-28 · published 2024-04-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30630-us-dollar-yields-look-set-to-close-the-gap-with-commodities
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A firmer dollar and higher yields raise the cost of holding commodities and tend to weigh on grain and oilseed prices, while also strengthening the USD against emerging-market currencies that import feed.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-03-03 | [Dollar gains with yields, U.S. growth seen likely to outperform](https://feedsoft.ai/events/10060-dollar-gains-with-yields-u-s-growth-seen-likely-to-outperform.md) | +1.2% | +1.5% |
| DXY | 2024-03-19 | [The US dollar could be undervalued if commodities continue to rip higher](https://feedsoft.ai/events/31106-the-us-dollar-could-be-undervalued-if-commodities-continue-to-rip-higher.md) | +0.4% | +1.5% |
| DXY | 2022-11-17 | [Commodities slump as dollar rebounds](https://feedsoft.ai/events/38596-commodities-slump-as-dollar-rebounds.md) | +0.4% | -0.6% |
| DXY | 2026-06-29 | [US Dollar: Supported with elevated real yields – MUFG](https://feedsoft.ai/events/19014-us-dollar-supported-with-elevated-real-yields-mufg.md) | -0.0% | -0.1% |
| DXY | 2023-05-30 | [US dollar set to be stronger for longer - The Business Times](https://feedsoft.ai/events/36141-us-dollar-set-to-be-stronger-for-longer-the-business-times.md) | -0.5% | -1.4% |
| CORN | 2019-04-22 | [The dollar is too strong for U.S. companies](https://feedsoft.ai/events/59765-the-dollar-is-too-strong-for-u-s-companies.md) | -1.1% | +2.5% |
| CORN | 2022-07-12 | [Dollar rises to 20-year highs, sends grains lower – The Seam](https://feedsoft.ai/events/5974-dollar-rises-to-20-year-highs-sends-grains-lower-the-seam.md) | -13.6% | -16.3% |
| CORN | 2020-02-28 | [Commodity weekly Gold shines as the clouds darken \| Saxo](https://feedsoft.ai/events/54506-commodity-weekly-gold-shines-as-the-clouds-darken-saxo.md) | +3.2% | -2.7% |

## Sources

- forex.com: https://www.forex.com/en/news-and-analysis/us-dollar-yields-look-set-to-close-the-gap-with-commodities/

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