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USD/JPY was on track to extend its prior-day gain and traded near 109.82 as the dollar rose toward 90 on the index. US 10-year yields rose to 1.61%, and jobless claims fell to a pandemic low of 406K.
Durable goods orders fell unexpectedly in April, and the market was looking ahead to PCE inflation data.
Rising US yields and a firmer dollar tend to weigh on dollar-priced commodities and can cut export competitiveness for US feed ingredients. The yen move adds only a small effect for Japan-linked buyers.
octabroker.comMay 28, 2021After 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.
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.
