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Fed Chair Jerome Powell warned that rates may need to rise faster and higher than expected, pushing the dollar index to a three-month peak of 105.65. The euro fell more than 1.2% and the Australian dollar hit a four-month low of $0.6580.
A stronger dollar makes US commodities pricier for foreign buyers and tends to weigh on grain and oilseed prices.
cnbc.comReutersMar 8, 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.
