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The dollar rose after Senate leaders announced a two-year budget agreement that eased fears of a government shutdown or debt default. The Wall Street Journal Dollar Index gained 0.5% to 84.23, while the dollar fell 0.2% against the yen as investors sought haven assets.
Reduced fiscal risk supports the dollar, which can pressure dollar-priced commodities. The effect on feed markets is indirect and likely modest.
wsj.comDaniel KrugerFeb 7, 2018After 15 past bullish policy events, US Dollar (Broad) moved a median +0.2% over 5 sessions (53% higher; middle half -0.4% to +0.4%), and +1.0% 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.
The two-year budget deal eased shutdown fears and lifted the WSJ Dollar Index 0.5% on Feb 7.
