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The dollar touched a one-month high against the yen as Treasury yields climbed to multi-year peaks ahead of US inflation data. Markets priced a high chance of a 25 basis point Fed hike in March.
The euro also retreated from a three-month high against the yen after the ECB signaled less aggressive rate hikes.
Higher US yields and a firmer dollar tend to weigh on dollar-priced commodities and make US exports pricier for importers. The move reflects expected Fed tightening rather than a direct supply change.
brecorder.comReutersFeb 9, 2022Not 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.
