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The dollar slipped as optimism grew that the US and China would reach a trade deal, reducing demand for safe-haven currencies. Trump said he expected to sign a significant part of the deal ahead of schedule.
The dollar index fell 0.07% to 97.765 ahead of the Fed meeting.
Easing trade tensions lower the risk premium on the dollar and can support Chinese demand for US farm products. A weaker dollar would also support dollar-priced feed commodities.
english.aaj.tvNasir WakeelOct 28, 2019After 1,637 past bearish macro events, DXY 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.
