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The yen fell more than 1% after the Bank of Japan's dovish decision, while the dollar was steady but on track for a monthly loss. Weak US first-quarter GDP and hot core PCE data shaped the dollar outlook.
A weaker yen and firmer dollar on Fed rate expectations raise the dollar cost of dollar-priced feed imports for yen-based buyers, with limited direct price impact.
convera.comHolly ThompsonApr 28, 2023After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
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.
