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ING analysts see USD/JPY pulled by two opposing forces: further Fed tightening and a flattening US Treasury curve support the dollar, while a sharp escalation of the trade war would weaken it. The yen is near its weakest level of the year against the dollar.
The yen outlook depends on Fed policy and trade-war escalation, which feed about dollar-priced commodity values. The direct effect on feed prices is small.
think.ing.comChris TurnerJul 11, 2018Not enough comparable past events yet for a historical read.
After 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.
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.
