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The dollar fell 0.33% to 150.21 yen on February 29 after a Bank of Japan policymaker called for an overhaul of ultra-loose monetary policy. The 10-year JGB yield rose 1.5 basis points to 0.710%.
Expectations of BOJ tightening tend to strengthen the yen and weaken the dollar, which can modestly support U.S. commodity prices. The direct effect on feed markets is small.
reuters.comTetsushi KajimotoFeb 29, 2024Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), 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.
