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USD/JPY traded in a narrow range near 110.50-110.81 as the dollar firmed on Delta-variant COVID concerns in Asia-Pacific and upbeat US home price data. The yen was muted after mixed Japanese data, with retail sales beating forecasts but unemployment coming in above consensus.
This is a routine currency wrap with no clear directional catalyst. A firmer dollar against the yen modestly lowers the cost of dollar-priced feed imports for Japan, but the direct effect on feed prices is limited.
octaafrica.netJun 30, 2021After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
