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The yen hit an eight-week high against the dollar after a Bank of Japan board member called for continued rate hikes. Sterling fell 0.6% to $1.2434 after the Bank of England cut rates and raised its inflation forecast.
The dollar index hovered near its lowest level since the start of the week as trade-war fears eased.
Easing trade-war fears weakened the dollar, which can support dollar-priced commodities. Currency moves of this size have little direct effect on feed costs.
cnbc.comReutersFeb 6, 2025After 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.
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.
