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The dollar eased against the euro and yen as fears grew that rate hikes could trigger a global slowdown. UK inflation hit 9.1% and Canadian inflation reached 7.7%, while Powell pledged to bring inflation down expeditiously.
Stronger dollar and recession risk lower demand expectations and pressure commodity prices; the story is broad macro sentiment rather than a grain-specific driver.
cnbc.comJun 22, 2022After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
