# U.S. dollar soared Friday while Yen plunged in the red

> 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.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/40737-u-s-dollar-soared-friday-while-yen-plunged-in-the-red
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

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.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-02-04 | [Dollar rises from two-week low after U.S. jobs surprise](https://feedsoft.ai/events/9876-dollar-rises-from-two-week-low-after-u-s-jobs-surprise.md) | -0.3% | +1.5% |
| DXY | 2019-12-06 | [Dollar gains after stronger-than-expected U.S. jobs report \| Reuters](https://feedsoft.ai/events/55796-dollar-gains-after-stronger-than-expected-u-s-jobs-report-reuters.md) | -0.4% | -1.1% |
| DXY | 2018-08-10 | [Euro plunges to 13-month nadir versus dollar](https://feedsoft.ai/events/11065-euro-plunges-to-13-month-nadir-versus-dollar.md) | +1.1% | +1.1% |
| DXY | 2024-06-05 | [US dollar rises as strong service sector data muddles Fed easing this year](https://feedsoft.ai/events/8478-us-dollar-rises-as-strong-service-sector-data-muddles-fed-easing-this-year.md) | +1.1% | +0.9% |
| DXY | 2020-09-03 | [What Explains The Sudden Drop In Oil Prices? \| OilPrice.com](https://feedsoft.ai/events/10229-what-explains-the-sudden-drop-in-oil-prices-oilprice-com.md) | -0.1% | +0.6% |

## Sources

- financebrokerage.com: https://www.financebrokerage.com/u-s-dollar-soared-friday-while-yen-plunged-in-the-red/

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