The US Dollar Index rose to 103.048, its highest since early April 2025, after October CPI rose 0.4% month-on-month against expectations of 0.3%. Hawkish Federal Reserve comments pushed the probability of a December rate hike to about 91% according to CME FedWatch.
The yen was approaching 160 per dollar in the same session.
A firmer dollar and expected Fed tightening raise the cost of dollar-priced feed imports for Asian and emerging-market buyers, which can weigh on demand and on commodity prices quoted in dollars.
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.
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.