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The dollar fell to an almost two-year low against the euro on July 27 as US coronavirus cases rose, and ahead of a Federal Reserve meeting expected to reaffirm near-zero rates. The euro traded at about $1.1726 after reaching $1.1781.
Florida had become the state with the second-highest number of cases.
A weaker dollar supports dollar-priced commodities such as grains and oilseeds, while expectations of prolonged low US rates keep the currency under pressure.
cnbc.comReutersJul 27, 2020After 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.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.
