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Sterling was headed for weekly declines against the dollar and euro on October 27, trading near $1.2120 and close to a six-month low. The move followed soft UK jobs data and a broadly stronger dollar, which was lifted by a US Treasury sell-off that pushed benchmark yields past 5%.
A firmer dollar makes dollar-priced feed commodities relatively more expensive for non-US buyers, and it can soften US export competitiveness. The effect on feed prices is modest in this case.
brecorder.comReutersOct 27, 2023After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
