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Jay Powell's Jackson Hole speech was seen as balanced, leaving the Fed split between hawks favoring faster tapering and doves wary of derailing the recovery. Hedge funds had bet heavily on a stronger dollar after expecting a hawkish message, and the article argues the Fed's go-slow stance will keep the dollar weaker for now.
A slower Fed tightening path points to a softer dollar, which generally supports dollar-priced commodities and US export competitiveness, though the effect on feed input costs is modest.
ofx.comOct 28, 2021After 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.
