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Westpac analyst Richard Franulovich argues that the recent US dollar rise will prove sticky and may run further. He notes the latest yield increase to 3% is driven more by Fed hike expectations than by term premium.
A persistent dollar rally tends to pressure dollar-priced grains, oilseeds and meals, while supporting import costs for weaker-currency feed buyers.
octaafrica.netApr 30, 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.
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.
