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The dollar fell broadly after the Federal Reserve committed to buy an unlimited amount of bonds and announced corporate bond purchases and small business credit programs. Investors also expected a U.S. stimulus package.
The dollar index slipped 0.42% to 101.71 from a three-year high.
Fed easing and expected fiscal spending weaken the dollar, which typically supports dollar-priced grain and oilseed prices. Feed buyers may see somewhat firmer import-linked prices.
cnbc.comReutersMar 24, 2020After 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.
The Fed's unlimited QE and credit facilities on 24 March eased dollar demand and pushed the dollar down from its three-year high.
