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The US Federal Reserve held rates steady and dropped its longstanding reference to possible further hikes, while traders trimmed bets on cuts starting in March. Colombia's central bank cut its benchmark rate by 25 basis points to 12.75%, and the Colombian peso gained about 0.4%.
Latin American stocks and currencies edged higher.
Easing dollar-rate expectations and a firmer Colombian peso shift emerging-market currency flows, which can affect the cost of imported feed ingredients priced in dollars. The effect on grain and meal prices is indirect and likely modest.
cnbcafrica.comJan 31, 2024Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
