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USD/JPY fell about 0.35% to 110.55 after US 10-year Treasury yields dropped to 1.35%, their lowest since February. The ISM Services PMI slipped to 60.1 in June from 64 in May, below the 63.5 forecast.
Softer US services data and lower yields weaken the dollar's yield support, which can ease pressure on dollar-priced commodities, though the effect on feed markets is small.
octaafrica.netJul 6, 2021Not enough comparable past events yet for a historical read.
After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% 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.
