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The dollar extended its fall on July 31, heading for its biggest monthly drop in a decade. The euro touched $1.19, its strongest since May 2018.
The move followed a 32.9% annualised contraction in US second-quarter GDP and President Trump's remark about possibly delaying the November election.
Dollar weakness tends to lift dollar-denominated commodity prices, which supports the cost of imported feed ingredients for buyers outside the US.
brecorder.comReutersJul 31, 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.
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.
