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The US dollar surged more than 1% to a four-and-a-half-year high after President-elect Trump threatened new tariffs. The Canadian dollar, Mexican peso and Chinese yuan fell sharply, and these three currencies together make up more than 40% of the Fed's broad dollar basket.
Tariff threats against Canada, Mexico and China raise the risk of lower US farm export demand and weaker importer currencies, which pressures US soybean, corn and meal prices. A stronger dollar also makes US feed ingredients more expensive for foreign buyers.
reuters.comNov 26, 2024After 45 past bullish trade events, US Dollar (Broad) moved a median -0.0% over 5 sessions (42% higher; middle half -0.3% to +0.4%), and -0.0% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 40 past bullish trade events, Chinese Yuan (CNY per USD) moved a median +0.6% over 5 sessions (75% higher; middle half +0.0% to +1.4%), and +1.1% 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.
