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The euro and sterling fell sharply against the dollar after the Fed signalled earlier rate hikes, with the dollar reaching almost a two-month high of $1.1984 per euro. Sterling dropped to its lowest since May 7 at $1.39745, and bitcoin fell after the dollar's gain.
A sharp dollar rally after the Fed's hawkish pivot raises the cost of dollar-priced feed commodities for non-US buyers and can weigh on US commodity prices.
cyprus-mail.comEleni PanayiotouJun 17, 2021After 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.
Euro fell sharply on 17 June as the Fed signalled earlier rate hikes, with the dollar reaching near two-month highs against the euro.
The euro and sterling fell sharply versus the dollar on June 17, showing broad USD strength after the Fed signal.
