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The Indian rupee had its worst week in seven, closing at 74.87 per dollar as concerns over a new COVID variant hit global markets. Asian emerging-market shares and currencies fell as investors moved to safe-haven assets such as the dollar.
Indian shares dropped nearly 3%.
Risk-off flows strengthen the dollar and weaken emerging-market currencies, which raises the local cost of imported feed ingredients. The demand fears from the variant also weigh on energy and commodity prices.
brecorder.comReutersNov 26, 2021After 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.
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.
