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The dollar rose more than 2% against the Mexican peso and about 1.4% against the Canadian dollar before settling around 1% higher against each. The dollar hit a four-month high against China's yuan while Hong Kong and Chinese share indexes were mostly steady.
Investors were positioning around expected Trump policies.
A broad dollar rally makes US feed and grain exports costlier for importers in Mexico, Canada and China, which can weigh on export demand and prices. Currency moves in these markets also shape the affordability of imported feedstuffs.
reuters.comTom Westbrook, Ankur BanerjeeNov 26, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
