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Most Asian currencies fell on June 29 as the US dollar firmed after Fed Chair Jerome Powell said two more rate hikes were possible this year. The Korean won fell 0.6%, its weakest since June 1, while the Thai baht sits near a seven-month low amid political uncertainty.
A stronger dollar on hawkish Fed expectations weakens Asian currencies, which raises the local-currency cost of importing feed ingredients and can pressure demand for US feed commodities priced in dollars.
nst.com.myReutersJun 29, 2023After 2,356 past bullish macro events, US Dollar (Broad) 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.
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.
