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The dollar extended its bounce as investors cut bets against it and sold the euro over worries the ECB was uncomfortable with the currency's rise. The dollar was about 1.3% above a 28-month low against a basket of currencies.
The euro slipped to $1.1806 after touching $1.20 earlier in the week.
A stronger dollar tends to pressure dollar-denominated grain and feed ingredient prices and makes US exports relatively more expensive for importers.
cnbc.comReutersSep 3, 2020After 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.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
