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The dollar hit an eight-week high against the yen and held near a five-week high against sterling after rising Treasury yields. Sterling weakened after hotter-than-expected UK inflation raised recession concerns, and the Fed was expected to raise rates by another 75 basis points in early November.
Rising US yields and a firmer dollar tend to weigh on dollar-denominated commodity prices and raise financing costs for feed buyers.
cnbc.comReutersOct 19, 2022After 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.
