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The dollar dipped against the Japanese yen on Thursday on expectations the Federal Reserve will cut rates next year. It rebounded from earlier losses against the euro in choppy trading.
Markets see the first cut in March and about 155 basis points of easing by December 2024.
A softer dollar driven by rate-cut expectations supports dollar-priced commodities, though the effect on feed prices is modest in a choppy session. Yen and euro moves can shift import costs for Asian and European feed buyers.
reuters.comKaren BrettellDec 28, 2023After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
