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The Bloomberg Dollar Spot Index rose for a fourth straight session, climbing 1.1% over that period, and was approaching its 2024 high. The move followed strong U.S. jobs data and political turbulence in Europe.
Investors were positioning ahead of the U.S. CPI reading and Fed decision.
A firmer dollar ahead of key U.S. data tends to weigh on dollar-priced feed commodities and raises costs for buyers using weaker currencies. The move is routine positioning rather than a new shock.
bloomberg.comGeorge LeiJun 11, 2024Not 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.
