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The US dollar posted its strongest weekly gain against a basket of currencies in nearly 15 months as traders bought it to close out bets against it and sought safe-haven assets. The move followed a week of sharp swings in stocks and bonds, with the Dow falling over 1,000 points on Thursday.
A stronger dollar generally pressures dollar-priced commodities and can lower U.S. export demand for feed grains and meals. The move reflects risk-off flows rather than a change in agricultural fundamentals.
businesstimes.com.sgFeb 9, 2018Not enough comparable past events yet for a historical read.
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.
Best weekly dollar gain in about 15 months, driven by short covering and haven buying amid market turmoil, directly describes the move.
