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An ING weekly FX outlook says the US dollar is set to hold its position as the strongest G10 currency for now. It rates the dollar mildly bullish, with a spot level of 99.28 on the DXY index.
Coronavirus-exposed currencies are not expected to recover next week.
A firmer dollar makes US commodity exports pricier abroad and tends to weigh on dollar-priced grain and meal. The outlook is a forecast rather than a new supply or demand event.
think.ing.comFrancesco PesoleFeb 21, 2020After 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.
