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The dollar fell and sterling reached its highest level in more than two years on Friday after Fed Chair Jerome Powell signalled that a long-anticipated rate cut would come next month. The move reflected a clear shift in expectations toward easing.
Lower US rates tend to weaken the dollar, which can lift dollar-priced commodities and make US feed ingredients cheaper for overseas buyers. Buyers in importing countries may see better purchasing power.
reuters.comAlden BentleyAug 23, 2024After 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.
