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The euro and pound fell as Trump won the US presidential election. The dollar posted its biggest one-day rise in nearly two years on expectations of tariffs, tax cuts and immigration controls.
Analysts warned these policies could fuel inflation and keep the Fed's rates higher.
Expectations of higher US rates and a stronger dollar tend to pressure dollar-priced feed commodities and raise import costs for buyers outside the US.
politico.euGeoffrey SmithNov 6, 2024After 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.
After 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.
Not enough comparable past events yet for a historical read.
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.
Describes the biggest one-day dollar rise in nearly two years as tariff and tax-cut expectations lifted the dollar and kept Fed rates higher, pressuring the euro.
Biggest one-day dollar rise in nearly two years on expected tariffs and tax cuts, which could keep Fed rates higher.
The dollar's biggest one-day rise in nearly two years on tariff and inflation expectations reinforced Fed-higher-for-longer pricing, which weighed on the euro.
Dollar's biggest one-day rise in nearly two years on tariff, tax cut and inflation expectations that keep Fed rates higher.
