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Sep 28, 2021MACROGlobal

FX Daily: Dollar getting a lift from the short end

Short-dated US dollar interest rates have risen as markets begin to take the Fed's rate projections more seriously. The dollar is gaining against low-yielding currencies, with USD/JPY approaching its yearly high near 111.65.

WHY IT MATTERS

Rising US short-term rates support the dollar, which can weigh on dollar-priced commodities and reduce foreign demand for US exports.

AFFECTSUS Dollar (Broad)▲

SOURCE
think.ing.comChris Turner, Francesco PesoleSep 28, 2021

Price reaction & history

US Dollar (Broad)▲bullishSO FAR1d +0.4%5d +0.5%20d -0.1%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

Feb 5, 2024FX Daily: Flip Flop | articles | ING THINK+0.1%
Apr 17, 2024FX Daily: The big unwinding | articles | ING THINK-0.3%
Jun 17, 2021FX Daily: The Fed disrupting the calm | articles | ING THINK+1.1%
Oct 27, 2023FX Daily: Stark growth gap makes the dollar even harder to sell | articles | ING THINK-0.9%
Apr 12, 2024FX Daily: From Fed dependence to Fed divergence | articles | ING THINK+1.1%

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.

US Dollar (Broad) DXY · GP ▸

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