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USD/JPY rose toward 112.00 on Thursday, its highest level in several years, with the pair trading near 111.97. The US Dollar Index held above 94.00, its strongest level since September 2020, as markets priced in Fed tapering and rising energy costs.
The yen also weakened after Bank of Japan Governor Kuroda cited weak consumption and low inflation.
A stronger dollar makes US grains, oilseeds and meal less competitive on world markets, which tends to weigh on US export prices. A weaker yen raises the local-currency cost of imported feed for Japan.
octaafrica.netSep 30, 2021Not enough comparable past events yet for a historical read.
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.
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.
