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The U.S. dollar rose on Wednesday on month-end buying and technical factors after recent declines had pushed it to its weakest level in a month. Traders were weighing economic data and the aftermath of Fed Chair Jerome Powell's dovish remarks.
Short-term dollar strength from month-end flows can briefly weigh on dollar-priced feed commodities. The trend still depends on the Fed's easing path, so the impact on feed prices is likely limited.
reuters.comGertrude Chavez-DreyfussAug 28, 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.
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.
