Loading…
The Australian and New Zealand dollars held steady on Tuesday even as US yields hit 16-year highs and supported the greenback. The Aussie traded between 64 and 65 US cents over the prior two weeks, and the kiwi was near $0.5968.
Analysts said the US dollar's bull market was not yet over.
Currency moves shift the relative cost of Australian and New Zealand exports, which can affect feed grain and dairy pricing. The stable Aussie limits any immediate effect on feed markets.
brecorder.comReutersSep 26, 2023Not enough comparable past events yet for a historical read.
After 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.
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.
