
The dollar fell as Treasury yields hit new lows and investors bet the Fed would cut rates to offset coronavirus impacts. Money markets fully priced a 25bp Fed cut by April, and the dollar index was last down 0.5% at 98.48.
A weaker dollar and expected Fed easing tend to support dollar-denominated commodity prices and US export competitiveness for feed grains and oilseeds.
After 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.