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The yen dipped on Wednesday, with USD/JPY near 111.84, after Japanese retail sales fell 0.2%. US third-quarter GDP was reported at 3.3%, matching forecasts, and Fed Chair designate Powell said the case was building for a December rate hike.
Stronger US growth and expectations of Fed tightening support the dollar against the yen, which raises dollar-priced import costs in Japan. The direct effect on feed prices is small.
actionforex.comMarketPulseNov 29, 2017Not 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.
