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Goldman Sachs raised its six-month USD/JPY target from 103 to 106, citing the larger-than-expected US stimulus bill and the risk of higher real yields. The bank's 12-month forecast was lowered to 100 on reduced unhedged investment in US assets and less carry-related selling.
A stronger dollar against the yen is a macro factor that can modestly affect dollar-denominated commodity prices and Japanese buying power for US feed ingredients.
investinglive.comEamonn SheridanFeb 16, 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.
