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The US dollar rose from a three-week low on Friday while the yen fell from six-week highs after data showed inflation remained high. The PCE price index rose 1.0% in June, its largest monthly gain since 2005, and 6.8% year on year.
The employment cost index also rose 1.3% in the quarter.
Hot inflation data keeps the Fed on an aggressive tightening path, supporting a stronger dollar that weighs on dollar-priced commodities. A firmer dollar lowers the local-currency value of US grain and oilseed exports.
financebrokerage.comSelma IvyJul 29, 2022After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% 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.
