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Asian currencies dipped in thin holiday trading and were set for weekly losses, with the won the region's worst performer this year after falling 2.3% in the week. Money markets priced about an 86% chance of a 25 basis point Fed hike in May, which supported the dollar.
A stronger dollar on Fed hike expectations tends to pressure dollar-denominated grain and meal prices, while weakening Asian currencies raise import costs for feed buyers in the region.
brecorder.comReutersApr 21, 2023Not enough comparable past events yet for a historical read.
After 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.
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.
