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The dollar rose to a three-week high against the yen after the US Senate approved a major tax overhaul over the weekend. The bill would cut business taxes and add about $1.4 trillion to deficits over ten years, with House and Senate talks expected to reconcile versions.
Expectations of faster Fed rate hikes support the dollar, which can lift USD-denominated grain and oilseed prices less and make US exports pricier for buyers in other currencies. Feed buyers in dollar-linked markets should watch for currency-driven shifts in import costs.
cnbc.comReutersDec 4, 2017After 2,356 past bullish macro events, DXY 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.
