
The euro rose about 3% in two weeks to above $1.20, its highest since 2021, as the dollar weakened. Euro zone policymakers expect inflation to undershoot the ECB's 2% target and worry that further euro gains could push it lower still.
A stronger euro lowers the cost of dollar-priced imports into Europe, which can soften European feed and grain demand from dollar suppliers. The ECB's likely hold on rates limits any near-term currency offset.
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.
After 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.
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.