# Dollar extends dramatic fall in European trade - Markets - Business Recorder

> 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.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/52332-dollar-extends-dramatic-fall-in-european-trade-markets-business-recorder
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Dollar weakness tends to lift dollar-denominated commodity prices, which supports the cost of imported feed ingredients for buyers outside the US.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-30 | [Dollar steadies in Europe - Business & Finance - Business Recorder](https://feedsoft.ai/events/47821-dollar-steadies-in-europe-business-and-finance-business-recorder.md) | +0.1% | -0.8% |
| DXY | 2021-01-22 | [FX traders brush off ECB talk, bet euro-dollar has further to run - Markets - Business Recorder](https://feedsoft.ai/events/49376-fx-traders-brush-off-ecb-talk-bet-euro-dollar-has-further-to-run-markets.md) | +0.7% | +0.5% |
| DXY | 2021-08-31 | [Dollar falls to more than 3-week low with payrolls eyed - Markets - Business Recorder](https://feedsoft.ai/events/45752-dollar-falls-to-more-than-3-week-low-with-payrolls-eyed-markets-business.md) | -0.2% | +0.9% |
| DXY | 2024-11-28 | [Euro jump, rising yen put brakes on the dollar - Markets - Business Recorder](https://feedsoft.ai/events/27641-euro-jump-rising-yen-put-brakes-on-the-dollar-markets-business-recorder.md) | -0.3% | +1.3% |
| DXY | 2021-01-04 | [Dollar extends 2020 losing streak amid upbeat sentiment; yuan shines - Markets - Business Recorder](https://feedsoft.ai/events/12074-dollar-extends-2020-losing-streak-amid-upbeat-sentiment-yuan-shines-markets.md) | -0.0% | +0.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40009321

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.