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The ECB raised its three policy rates by 25 basis points, its 10th consecutive increase, and revised its 2023 inflation forecast to 5.6%. The euro fell as much as 0.7% against the dollar, its weakest since May.
The euro's drop after the decision strengthens the dollar, a factor that can weigh on dollar-priced grain and meal values and U.S. export demand.
morningstar.comAntje SchifflerSep 14, 2023After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
