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USD/JPY posted a fifth straight daily gain on Wednesday, trading near 111.50 and close to its yearly high. The US 10-year Treasury yield rose to 1.56%, its highest since June, after the Fed signalled it may begin reducing bond purchases.
The dollar also drew support from concerns over China's Evergrande default and risk-off sentiment.
Higher US yields and a firmer dollar tend to pressure US commodity export prices and raise the cost of dollar-priced imports for feed buyers abroad. The move reflects monetary policy expectations rather than a direct change in grain supply.
octaafrica.netSep 29, 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.
