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The Australian dollar fell about 0.5% to around US80.26 cents after US President Trump said he wants a strong dollar that will get 'stronger and stronger'. His comments contradicted Treasury Secretary Mnuchin, whose remarks about a weaker dollar had triggered sharp currency volatility earlier in the week.
A stronger US dollar pressures dollar-denominated commodity prices and can weigh on US export competitiveness for grains and meals. Currency swings of this size shift the relative cost of Australian and other exporters' grain and feed supplies.
smh.com.auTimothy MooreJan 25, 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.
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.
