Dollar weakens as U.S. bond yields drop

After 398 past bullish macro events, USDCNY moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

• Mar 9, 2017China's yuan weakens, prompting dollar sales by state banks+0.0%
• Dec 28, 2022China's yuan weakens as U.S. dollar gains on sustained inflation outlook | Financial Post-1.0%
• Jun 27, 2016China Weakens Yuan Fixing by Most Since August as Dollar Surges - Bloomberg+0.6%
• May 18, 2018China's yuan set to post biggest weekly fall in 3 months as dollar tracks yields higher+0.2%
• Apr 16, 2024China's cycle of dollar hoarding and weakening yuan gets vicious+0.0%

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.

• Feb 16, 2024Dollar retreats on weak US Retail Sales, bond yields slump-0.1%
• Jun 21, 2019Dollar extends losses to 2-week low as US bond yields fall-0.1%
• Jul 30, 2020Dollar will weaken further while bond yields strengthen: Wells Fargo-0.3%
• Feb 28, 2020Baht gains more ground, as US dollar weakens-0.5%
• May 31, 2024Dollar Drops as Bond Yields Fall on Hopeful US Inflation Report+0.3%