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The euro fell to its lowest level against the dollar since May 2017 as coronavirus cases rose sharply in China and investors sought US assets. The euro also weakened against the Swiss franc, while the yen gained against the dollar.
A firmer dollar makes US-priced commodities more expensive for buyers outside the US and can weigh on dollar-denominated grain and meal prices. The move reflects risk-off flows tied to the virus outbreak.
cnbc.comReutersFeb 13, 2020After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
