Loading…
The dollar slipped to a five-month low against the euro and a basket of currencies on Wednesday. The dollar index fell 0.48% to 100.98, its lowest since July 27, as traders expected the Federal Reserve could soon cut rates.
Expectations of Fed easing weaken the dollar, which can lift dollar-denominated feed ingredient prices for importers' currencies to strengthen. The move is a routine currency reaction with limited direct effect on feed supply.
reuters.comKaren BrettellDec 27, 2023After 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.
