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The U.S. dollar fell broadly after a U.S. inflation report showed a slower pace of price increases. The data supported expectations for a smaller 50-basis-point Fed rate hike, and futures priced in a lower peak rate of about 4.8%.
The Australian and New Zealand dollars gained about 1.6% and 1.3% against the greenback.
A weaker dollar makes dollar-priced commodities cheaper for overseas buyers, which tends to support feed ingredient prices. Lower rate expectations also reduce pressure on the currency.
investing.comDec 13, 2022
reuters.comGertrude Chavez-DreyfussDec 13, 2022After 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.
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.
