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The dollar extended its fall on July 31, putting it on course for its biggest monthly drop in a decade, with the euro touching $1.19. The dollar index fell to 92.546, its lowest since May 2018, and was down 4.9% in July.
Investors cited the coronavirus surge and a stalling US recovery.
A weaker dollar generally supports dollar-priced commodities, which can help firm feed ingredient prices for importers.
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.
