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A Reuters review of Biden's first 100 days says near-zero U.S. interest rates and the Fed's pledge to stay accommodative have weighed on the dollar. A sharp rise in Treasury yields during the first quarter gave the greenback some support by prompting speculators to cut bearish bets.
A softer dollar tends to lift dollar-denominated commodity prices, including feed grains and meals, and makes U.S. exports more competitive. Buyers should expect the currency backdrop to remain a supportive factor for feed prices.
reuters.comNoel RandewichApr 29, 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.
