# FOREX Nov 1-Dollar on solid footing into Fed decision; yen dips on LDP victory | Financial Post

> The dollar traded near a 2.5-week high against major peers as faster US inflation boosted the case for earlier Fed rate hikes. The yen weakened after the ruling LDP held its majority in Japan's weekend election, reducing political uncertainty. The Fed was widely expected to announce a taper of stimulus.

- Date: 2021-11-02 · published 2021-11-02T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/44280-forex-nov-1-dollar-on-solid-footing-into-fed-decision-yen-dips-on-ldp-victory
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Stronger dollar and yen weakness together raise import costs for dollar-priced feed ingredients in yen-based markets.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-31 | [Yen declines on year-end U.S. dollar demand \| Financial Post](https://feedsoft.ai/events/54348-yen-declines-on-year-end-u-s-dollar-demand-financial-post.md) | +0.7% | +0.5% |
| DXY | 2023-02-24 | [Dollar steady on higher-for-longer rates outlook; yen volatile \| Financial Post](https://feedsoft.ai/events/37556-dollar-steady-on-higher-for-longer-rates-outlook-yen-volatile-financial-post.md) | +0.0% | -1.1% |
| DXY | 2021-04-01 | [China's yuan dips as Biden infrastructure plan lifts dollar \| Financial Post](https://feedsoft.ai/events/47817-china-s-yuan-dips-as-biden-infrastructure-plan-lifts-dollar-financial-post.md) | -0.5% | -1.8% |
| DXY | 2021-05-31 | [Dollar near 2-month high vs yen, U.S. inflation beats expectations \| Financial Post](https://feedsoft.ai/events/47351-dollar-near-2-month-high-vs-yen-u-s-inflation-beats-expectations-financial-post.md) | -0.2% | +1.1% |
| DXY | 2022-09-13 | [Latam FX slump as hot U.S. inflation sends dollar soaring \| Financial Post](https://feedsoft.ai/events/39796-latam-fx-slump-as-hot-u-s-inflation-sends-dollar-soaring-financial-post.md) | +1.4% | +3.5% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/forex-nov-1-dollar-on-solid-footing-into-fed-decision-yen-dips-on-ldp-victory

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