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The dollar strengthened as rising US Treasury yields reduced expectations of Fed rate cuts. Sterling gained against the greenback after UK inflation stayed above 10% in March, keeping pressure on the Bank of England to keep raising rates.
A firmer dollar tends to weigh on dollar-priced grains, oilseeds and meals, while sterling strength has little direct effect on feed pricing.
financialpost.comReutersApr 19, 2023After 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.
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.
