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The dollar hovered near 2.5-month lows against a basket of major currencies, and the yen slipped as safe-haven demand faded. The dollar index was on track to lose more than 1% for the week as investors moved into other currencies, including emerging-market ones.
The shift followed Chinese Premier Li Keqiang's pledge not to engage in competitive devaluation.
A weaker dollar and reduced trade-war risk aversion tend to support dollar-priced commodities and can ease export competition concerns for US grains and oilseeds. The move is modest and driven by sentiment rather than supply or demand.
cnbc.comReutersSep 21, 2018After 1,637 past bearish macro events, US Dollar (Broad) 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.
