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Traders are increasingly betting the euro will fall below dollar parity for the first time in 20 years as the European economy slides toward recession. Shorting the euro has become one of the most popular trades.
Heavy speculative positioning against the euro reinforces downward currency pressure, which strengthens the dollar and can make dollar-priced feed commodities less costly for European buyers while signaling weaker European demand.
bloomberg.comNaomi Tajitsu, Mary BiekertJul 6, 2022Not 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.
