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The U.S. dollar weakened broadly as investors bet the Federal Reserve has finished raising interest rates. Sterling held firm after the Bank of England kept rates at a 15-year high and signaled no near-term cuts.
The dollar index was 0.3% lower at 106.12 in late morning trading.
A weaker dollar and higher risk appetite support high-yielding commodity and emerging-market currencies, which can lift dollar-priced grain and oilseed values. Buyers may see modest relief on import costs while the Fed's peak view holds.
cnbc.comReutersNov 2, 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.
