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The dollar strengthened after Fed policymaker Charles Evans said he was comfortable with a December rate hike and that rates should rise to a restrictive 3.0-3.25%. The move erased euro gains tied to Italy's budget deficit plans.
Expectations of further Fed tightening support the dollar, which can make dollar-priced feed commodities relatively cheaper for foreign buyers and pressure US export prices.
businesstimes.com.sgOct 3, 2018After 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.
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.
