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The dollar index dipped after briefly hitting a nine-month high against the yen. The China-sensitive Australian dollar rose 0.32% to $0.6423.
Worries about China's post-pandemic recovery had weighed on the currency earlier in the month.
A softer dollar index tends to support dollar-priced commodities and improve import affordability for buyers in other currencies. The effect on feed markets is modest and mainly depends on broader trends.
reuters.comKaren BrettellAug 28, 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.
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.
