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The dollar fell to its lowest against the yen since October 31 and was weak against a basket of major currencies. The move came ahead of the expected release of a Senate Republican tax-cut bill that differed from the House version.
The political uncertainty over tax reform is weighing on the dollar, which can support dollar-denominated commodity prices. The effect on feed markets is limited, since the driver is domestic fiscal politics rather than supply or demand.
reuters.comSaqib Iqbal AhmedNov 9, 2017After 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.
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.
