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European shares fell about 3% and the dollar strengthened after a new COVID-19 strain hit markets. The pound fell 2.5% below $1.32, putting it on track for its biggest daily drop since March, with no post-Brexit trade deal before the December 31 deadline.
Risk-off moves and a stronger dollar typically weigh on dollar-denominated grain and feed prices, while the sterling slide raises UK import costs for feed. The effect is mainly on currency and sentiment.
reuters.comSujata RaoDec 21, 2020Not enough comparable past events yet for a historical read.
After 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.
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.
