Loading…
The dollar started 2021 under pressure after posting its largest annual loss since 2017, with short sellers adding to bets against it. The euro rose to $1.2244 and the yen strengthened on reports of a possible state of emergency in Tokyo.
Sterling was steady as UK lockdown restrictions were expected.
A persistently weak dollar tends to support dollar-priced commodities, including grains and oilseeds, by making them cheaper for non-US buyers. The impact is a general macro tailwind.
tbsnews.netReutersJan 4, 2021After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.
