# USD/JPY endures below YTD highs near 111.50 as US T-bond yields soar, Powell speech eyed — Octa

> 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.

- Date: 2021-09-29 · published 2021-09-29T12:00:00.000Z
- Category: macro · region Japan · magnitude low
- Page: https://feedsoft.ai/events/45303-usd-jpy-endures-below-ytd-highs-near-111-50-as-us-t-bond-yields-soar-powell
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

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.

## Read by commodity

- DXY: bullish ▲
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-03-04 | [EUR/USD drops under 1.2000 as Powell send US bond yields flying - Forex Crunch](https://feedsoft.ai/events/11416-eur-usd-drops-under-1-2000-as-powell-send-us-bond-yields-flying-forex-crunch.md) | +0.7% | +0.9% |
| DXY | 2021-09-30 | [USD/JPY touches multi-year high near 112.00 ahead of US GDP, stronger USD — Octa](https://feedsoft.ai/events/45301-usd-jpy-touches-multi-year-high-near-112-00-ahead-of-us-gdp-stronger-usd-octa.md) | +0.0% | -1.1% |
| DXY | 2021-06-28 | [USD/JPY remains strong above 110.80 amid higher US Treasury yields — Octa](https://feedsoft.ai/events/46841-usd-jpy-remains-strong-above-110-80-amid-higher-us-treasury-yields-octa.md) | +0.5% | +1.1% |
| DXY | 2022-01-31 | [USD/JPY defends 115.00 amid softer Japan data, firmer yields — Octa](https://feedsoft.ai/events/43367-usd-jpy-defends-115-00-amid-softer-japan-data-firmer-yields-octa.md) | -0.8% | -0.7% |
| DXY | 2017-06-27 | [USD/JPY to target ¥118 by year-end – Deutsche Bank — Octa](https://feedsoft.ai/events/70725-usd-jpy-to-target-118-by-year-end-deutsche-bank-octa.md) | -0.3% | -2.2% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/927205/

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